Will the cast of 30 Rock soon be making fun of a new corporate overlord? M&A bankers for General Electric may have reached a deal Tuesday to sell NBC-Universal to Comcast, reports TheWrap. Both companies have denied any deal.
According to "individuals informed about the meeting," the parties have agreed upon a $35 billion pricetag, significantly less than NBC-Universal's year-ago valuation of $55 billion. GE's entertainment arm is coming off a losing summer at the box office, and its NBC television channel trails the other major networks at fourth place in national ratings.
GE originally bought NBC in 1985 for $6.28 billion, before merging it with Vivendi, owner of Universal studios and several cable channels, in 2004. Vivendi still controls 20% of NBC-Universal, which it has been reportedly preparing to option in an IPO. GE owns the remaining 80% of the entertainment company.
This won't be the first content-producing purchase for Comcast. It bought United Artists and MGM from Sony Pictures in 2004.
Related Stories: | Topics:Innovation, Technology, Design, GE, nbc, universal, comcast, deal, sale, M&A, General Electric, content, provider, Consumer Products, Enterprise, innovative products, it, products, NBC Universal Inc., General Electric Company, Motion Picture Production and Distribution, Media Sector, Comcast Corporation |
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