GE set to buy Vivendi's share of NBC Universal

General Electric, the American conglomerate, has reached an agreement in principal with Vivendi, the media group, to buy the French company’s 20 per cent in NBC Universal for $5.8 billion (£3.5 billion), according to a person familiar with the discussions.

The long-awaited deal, expected to be announced on Wednesday or Thursday of this week, would clear the way for GE, which already owns 80 per cent of NBC Universal, to pass control of the entertainment group to Comcast, the largest cable company in the United States.

It would give Comcast a 51 per cent stake in NBC Universal, the owner of television networks including NBC, USA Network and Bravo, along with local television stations, theme parks and a film studio.

Read Full Article from Times Online

- Posted: 2009-12-01 10:31:27

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