Comcast, the nation’s largest cable provider, will consolidate its control over NBCUniversal by buying out the 49 percent of the media company that it doesn’t already own. Comcast will pay General Electric $16.7 billion for the shares and shell out $1.4 billion for related real estate, including the iconic 30 Rockefeller Plaza. Under a deal announced in 2009, General Electric spun NBC, Universal Studios, and various other media properties off into a new joint venture and sold 51 percent of the shares, and effective control, to Comcast. The merger was intensely controversial. Critics charged that the acquisition would further cement Comcast’s already dominant position in the cable market, making it impossible for competitors such as Netflix to compete on a level playing field. But regulators decided not to challenge the merger, settling for a long list of regulatory concessions. Read 4 remaining paragraphs | Comments
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Comcast acquires full ownership of NBCUniversal ahead of schedule
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