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GE and Comcast finalize majority stake in NBC Universal

updated 06:50 pm EST, Tue December 1, 2009

Comcast poised to control content from Hulu

Comcast and General Electric have allegedly finalized a deal that will land Comcast a 51 percent majority stake in NBC Universal, unnamed sources told CNBC. The sources claim only paperwork remains to be finished as the companies prepare to officially announce the merger. Vivendi is expected to quickly finish signing an agreement to sell its stake, which sits at 20 percent.

Although the companies have reportedly finished negotiations, the $5.8 billion deal will still need to be approved by the FCC. Although the process could take several months, the Commission is not expected to present much resistance.

The merger will effectively give Comcast a significant stake in Hulu, which is currently owned by NBC Universal, Fox and ABC. The cable provider will also have more control over NBC Universal's range of content that ends up on portals such as iTunes and the Zune Video Marketplace.

The companies allegedly set an initial goal of finalizing the details before Thanksgiving, however talks with Vivendi took longer than expected, according to The Hollywood Reporter. A formal announcement is believed to be scheduled for Thursday.




by MacNN Staff

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Comments

  1. Glenstorm

    Joined: Dec 1969

    +1

    Good Bye Hulu

    It was fun while it lasted. . .

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