December 1st, 2009, 10:01PM in Business by Marc LequimeView Comments
Comcast have finalized a bid with General Electrics for ownership of NBC. The deal is expected to close on thursday, as they await Vivendis sale of 20%.
The deal will set Comcast back $9bill in debt, while still raising them $6billion from cash contribution. The deal includes the spinoff of NBC Universal. There's nothing left to do but tons of paperworking, pencil tapping and preparation – yet some people still accuse the idea of being likely to take up to a year to complete.
As CNBC states:
The deal would make NBCU 51 percent owned by Comcast [CMCSA 14.97 0.31 (+2.11%) ] and 49 percent owned by GE [GE 16.16 0.14 (+0.87%) ].
Currently, GE owns 80 percent of NBCU, which the two companies have valued at about $30 billion.
RELATED LINKS
GE, Comcast to Benefit From Deal: AnalystsGE, Vivendi Agree on NBCU Stake ValueGE to Double by 2011?
The deal includes the spinoff of NBC Universal and $9 billion in debt. It also includes the merger of Comcast's content assets and a $6 billion cash contribution.The deal would make Comcast one of the nation's largest entertainment companies rivaling the heft of its former takeover target, The Walt Disney Co [DIS 30.67 0.45 (+1.49%) ].
Interesting.
Source:
