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



Tom Paine




 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

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.



permalink


Daily Links 2/12/2013: Intel Confirms It's Making A Streaming TV Box And Online TV Service



Ernst & Young: Cloud, SaaS dominating tech industry acquisitions (ZDNet)

Cornerstone launches Salesforce native application (ZDNet)

Auditor: US Army's ERP software projects at risk (CIO.com)
One of the major Army ERP projects is being built on SAP.

DELL: T. Rowe Price Joins Opposition to LBO (Barron's: Tech Trader Daily)

Intel Confirms It's Making A Streaming TV Box And Online TV Service (SAI)



Fox and Comcast Announce Comprehensive Programming Agreement
New Accord Provides Entertainment, Sports and Local News to Comcast Xfinity TV Customers In and Out of the Home
Agreement includes FOX Broadcasting and FOX Television Stations Programming in Major Cities
(Business Wire)

Fox and Comcast Sign TV Everywhere Pact
Distribution deal covers stations, cable networks
(Broadcasting & Cable)

DOJ Wants More Info From Arris, Google on Motorola Home Bid
So-Called 'Second Request' Issued in Conjunction with Antitrust Review
(Multichannel News)

Power play: Philadelphia houses U.S. headquarters of a leading maker of networks that manage power grids (Philadelphia Inquirer)

Lockheed in Newtown gets go-ahead to begin work on next GPS III satellites (Philadelphia Business Journal)


Philly-based Pinion Hopes To Finally Get Ambient Activity Tracking Right By Distilling Your Activities To An Essential Few (TechCrunch)