Comcast Completes Takeover of NBC Universal

 

By Posted 30 Jan 2011, 11:50

If you’ve been following all previous news regarding the Comcast Corporation / NBC Universal merger, then you might like to know that the takeover has now been completed. Comcast issued a statement on Saturday January 29th, saying that the transaction had gone through on Friday.

As Dan Levine and Yinka Adegoke over at reuters.com recently reported, the Comcast Corporation – one of the leading providers of video and residential Internet services in the United States – completed the merger by acquiring a 51 percent stake in NBC universal, with General Electric holding the other 49%.

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Comcast executives are said to have spent over 13 months trying to get the deal to go through a rigorous U.S. regulatory review process with the Justice Department and the FCC (Federal Communications Commission). Although regulators approved the deal, there were conditions attached.

One of the conditions, which Comcast agreed to, was to relinquish management rights of their minority stake in the Hulu service. As noted on the Comcast.com website, the new merger brings together a premier sports entertainment platform, a world-class cable network portfolio and much more.

You can read more about the takeover via the Comcast.com website.