Comcast purchases remains of NBC

In News

Comcast will bring General Electric’s ownership of NBC to the end.

Comcast Corp. is paying $16.7 billion to buy out the shares of NBCUniversal from General Electric, according to the Los Angeles Times.

The purchase allowed Comcast to acquire NBCUniversal’s headquarters at Rockefeller Plaza, located in midtown Manhattan, and the CNBC headquarters in Englewood Cliffs, N.J.

Comcast now controls the New York media company after acquiring the remaining 51 percent stake from NBCUniversal.

The purchase will be funded with $11.4 billion that was generated by Comcast’s sale of wireless range, NBCUniversal’s incoming revenue and the profits from the sale of its share in the A&E networks.

With everything still in process, the deal is expected to close by the end of March.

“Our decision to acquire GE’s ownership is driven by our sense of optimism for the future prospects of NBCUniversal and our desire to capture future value that we hope to create for our shareholders,” Comcast CEO Brian Roberts said in a statement.

You may also read!

The Muslim Student Association hosted Hijab Day

Muslim Student Association celebrates Women’s History Month with Hijab Day

Students had an opportunity to try on a headscarf on Titan Walk during Hijab Day, an event hosted by

John Smith, assistant head coach for CSUF men's basketball, has been named the

Assistant head coach John Smith accepts new role in Cal Poly San Luis Obispo

After being the associate head coach for Cal State Fullerton men’s basketball for the past six years, John Smith

An illustration of Jordan Peele's movie 'Us.'

Review: Jordan Peele’s ‘Us’ questions the monotony of daily life

Jordan Peele hits another home run with his sophomore effort, “Us.” While Peele’s last hit “Get Out” was mostly


Mobile Sliding Menu