General Electric is out of the NBCUniversal business. Comcast today closed its $16.7B deal to buy the 49% of the entertainment company that GE continued to own after the companies formed a joint venture in January 2011. The cable giant says in an SEC filing that it also bought NBCU’s headquarters at 30 Rockefeller Plaza — part of a $1.4B real estate agreement that also gave Comcast CNBC’s headquarters in Englewood Cliffs, NJ. The Philadelphia-based company says that its payment consisted of $10B in cash (including $3.2B from NBCU), $725M in preferred stock, $4B in senior unsecured securities, $750M from cash funded by commercial paper, and $1.25B from NBCUniversal’s credit facility. “We are excited the transaction has closed and look forward to taking full advantage of the opportunities for growth and innovation at our combined company,” Comcast says.
Related: GE’s Immelt On Selling NBCU: “I Didn’t Have 52 Good Ideas. I had 2.”


CableTown is in the house y’all !!!!
GE to Comcast: Suckers!
NBCU Employee to GE: Good riddance…don’t let the door hit your ass on the way out!
You mean the ones Comcast hasn’t fired yet?
I must agree with Justin about the sucker part. It will be interested to see how Comcast will change NBC since GE sold out. Good luck to the future.
It’s Comcastic!
GE did the smart thing here and let Comcast buy out a dying whale in NBCUniversal, but more specifically, getting fully saddled now with NBC, which is hurting Comcast overall on all fronts. NITWITS!