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Comcast Buys NBC…

December 3, 2009

Comcast, the largest cable operator in the U.S., reached agreement to buy NBC Universal from the General Electric Company
for approximately $30B USD. The joint venture will see Comcast owning 51% and GE 49%. Tim Arango in The New York Times wrote that “Almost immediately, the transaction reshapes the nation’s entertainment industry, giving a cable provider a huge portfolio of new content, even as it raises the sector’s anxieties about the future.” The DealBook from the NY Times delineates the complicated financial details.  The deal will still need to pass regulatory scrutiny.

latest-NoMerger

FreePress and the Consumer Federation of America released an analysis of the deal demonstrating how it would harm the public interest. The report argues that the deal: would hurt competition and diversity in traditional video markets; would hurt competition in the emerging online video market;  and would trigger more media consolidation.

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