The payment, agreed to yesterday, tops the number thrown around last week of $2.8B. It will be made in cash, Comcast (which controls NBCUniversal) says in an SEC filing this morning. It adds, though, that “under certain limited circumstances” the payment could include a senior note issued by A&E. The deal is due to close after federal anti-trust officials OK the transaction. Once NBCU is out, A&E will be owned by Disney and Hearst. Each now owns 42.1% of the cable networks company that includes A&E, Biography Channel, History Channel, History International, Lifetime, Lifetime Movie Network, and Lifetime Real Women. NBCU’s sale “fits in with (Comcast’s) strategy to sell assets in which it does not control operationally,” says Wells Fargo Securities’ Marci Ryvicker.
By DAVID LIEBERMAN, Financial Editor | Tuesday July 10, 2012 @ 9:26am EDTTags: A&E Networks, Comcast, Disney, NBCUniversal
For all of Deadline's headlines, follow us @Deadline on Twitter.
This article was printed from http://www.deadline.com/2012/07/nbcu-to-collect-3-025b-for-its-15-8-stake-in-ae/