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Comcast Buys Rest of NBC From GE for $16.7 Billion

From nasdaq.com

Comcast Corp. (CMCSA, CMCSK) agreed to buy General Electric Co.'s ( GE ) remaining 49% stake in the NBCUniversal joint venture for about $16.7 billion, much sooner than expected. In addition, Comcast also will acquire the GE properties used by NBCUniversal at 30 Rockefeller Plaza in New York City and CNBC's headquarters in Englewood Cliffs, N.J., for roughly $1.4 billion. For GE, the deal provides the company with billions of dollars to return to shareholders and to invest in its industrials business. Meanwhile, the move places the NBC broadcast network and the NBC-owned cable networks--such as CNBC, Bravo and E!--in ... (full story)

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