Comcast To Finish Buying NBCUniversal For $16.7 Billion | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Comcast To Finish Buying NBCUniversal For $16.7 Billion

Comcast Corp. said Tuesday it will complete its buyout of NBCUniversal from GE for about $16.7 billion, ahead of schedule. Comcast, the nation's largest cable company, has owned 51 percent of NBCUniversal since their $28 billion merger in 2011.

NBCUniversal owns several familiar news and entertainment brands, including NBC, CNBC, Universal Pictures, Telemundo, USA Network and Universal Parks and Resorts.

"Our decision to acquire GE's ownership is driven by our sense of optimism for the future prospects of NBCUniversal and our desire to capture future value that we hope to create for our shareholders," Comcast Chairman and CEO Brian Roberts in a statement Tuesday.

Comcast also announced that NBCUniversal will buy from GE the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC's headquarters in Englewood Cliffs, N.J., for about $1.4 billion.

The completion of the buyout "comes several years early, as Comcast takes advantage of low borrowing costs and what CEO Brian Roberts calls a 'very attractive price,' " the Associated Press reported.

"Comcast had planned to take a larger stake in [NBCUniversal] over seven years, paying for it from operating cash," AP said.

"But Roberts told The Associated Press that the sale of its stake in pay TV network A&E and some wireless spectrum gave it plenty of cash on hand. He also says Comcast got a good deal given that the stock price of media conglomerates has been rising."

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

'Mislaid' Punctures Notions Of Gender And Race

In Nell Zink's new book, Mislaid, a young woman marries her male professor. It's 1965. She likes women; he likes men. What follows is a biting satire about gender, race and sexuality.
NPR

Clean Your Grill, And Other Hot Holiday Tips From Alton Brown

Whether you're barbecuing OR grilling, a meat-eater or a vegetarian, here's how to keep your flavor from going up in smoke this Memorial Day weekend.
NPR

Senate Blocks Measures To Extend NSA Data Collection

The Senate worked late into the night but was not able to figure out what to do about expiring provisions in the Patriot Act that authorize the NSA's bulk collection of Americans' phone records.
NPR

The Future Of Cardiology Will Be Shown In 3-D

The Living Heart Project aims to create a detailed simulation of the human heart that doctors and engineers can use to test experimental treatments and interventions.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.