February 20, 2013

Comcast Bets Big on TV, Movies - ABC News


Comcast is buying the rest of NBCUniversal from General Electric, and it’s doing it much sooner than expected. The price of GE’s remaining 49 percent stake in the entertainment giant is $16.7 billion. The takeover consolidates Comcast as a cable distributor and a content provider. The firm decided it made sense to work out a deal with GE now because the improved performance of the NBC broadcast network and cable-TV programming made it more likely the price would rise in the future. Two years ago Comcast bought 51 percent of NBCU. Comcast shares rose more than 7 percent in the pre-market after the deal was announced.

Read more: Comcast Bets Big on TV, Movies - ABC News

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