NBC could be a joint
operation between GE and Comcast for a few years, and then GE is
expected to leave the company behind in 2012 or 2013. NBC
Universal currently includes Universal Pictures movie studios, cable
channels USA, Syfy, Bravo, and the Universal Studios theme parks.
now controls 80% of the company, with an estimated value of $30
billion -- Comcast will receive the company and its $9 billion debt,
while Comcast is expected to include its own cash contribution.
When the deal is completed, Comcast will become one of the largest
entertainment companies in the world, and may be better suited to
battle The Walt Disney Co.
GE has manufactured a wide range of
industrial products ranging from dishwashers and light bulbs to jet
engines, but its interest in NBC has always been rather intriguing.
The company didn't want to spin off NBC, but has struggled greatly
due to the global economy, while spinning off other businesses.
the future, GE plans to attempt to rejuvenate its manufacturing
branches, while leaving other industries alone, analysts
The Federal Communications Commission must now take a
look at the deal -- which could take up to one year to complete --
though the companies involved do not expect any major problems from
the federal government.
quote: They do have a monopoly for cable TV service in their areas. That monopoly is government-mandated.