Comcast to buy rest of NBCU from GE for $18.1 billion

Tom Paine

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In what is perhaps an acceleration of a planned schedule, Comcast and GE announced today that Comcast would acquire the outstanding 49% of its NBCU joint venture from GE for $18.1 billion. The transaction, which values NBCU at about $39 billion, is expected to close by the end of the first quarter of 2013.

In addition, GE Capital (GECC) will sell the NBCU occupied floors in 30 Rockefeller Center, and property in Englewood Cliffs, New Jersey, to NBCU affiliates for $1.4 billion in cash. Comcast also said it would raise its dividend 20% and begin a new share buy back program.

Comcast shares are up 9% post-announcement in after hours trading. CEO Brian Roberts will appear on CNBC at 5pm, and the company will hold a press conference tomorrow morning.

Also, here is Comcast's earnings release.


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