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Wed Feb 13, 2013, 08:52 AM

Comcast doubles down on TV in $16.7B deal for NBCU

Source: AP-Excite

By RYAN NAKASHIMA and MICHAEL LIEDTKE

LOS ANGELES (AP) - Comcast's $16.7 billion deal to buy the remaining half of NBCUniversal ahead of schedule represents a resounding vote of confidence in the future of TV, even as the growth of Internet video reshapes the entertainment landscape.

The decision was driven largely by Comcast Corp. (CMCSK)'s belief that it would end up paying substantially more for General Electric Co. (GE)'s remaining 49 percent stake if it had waited until 2018, as had been envisioned in 2011 when the cable TV provider acquired majority control of NBCUniversal.

"We didn't have to do this now, we chose to do it," Comcast CEO Brian Roberts said in a Wednesday morning interview on CNBC. "We're bullish on the businesses we're buying."

The late Tuesday announcement sent shares of both companies up. Comcast was up 8 percent and GE added 3 percent in premarket trading Wednesday.

FULL story at link.


Read more: http://apnews.excite.com/article/20130213/DA4DOSLO2.html





In this Wednesday, Nov. 28, 2012 file photo, the Rockefeller Center Christmas tree is lit during the 80th annual tree lighting ceremony at Rockefeller Center in New York. Comcast said Tuesday, Feb. 12, 2013, that it's buying General Electric's 49 percent stake in the NBCUniversal joint venture for $16.7 billion several years early, as the company takes advantage of low borrowing costs and what CEO Brian Roberts called a "very attractive price."(AP Photo/Kathy Willens)

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Response to Omaha Steve (Original post)

Wed Feb 13, 2013, 09:27 AM

1. Ugh. nt

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Response to onehandle (Reply #1)

Wed Feb 13, 2013, 11:02 AM

5. That's pocket change to AAPL - why didn't they buy it? nt

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Response to Dreamer Tatum (Reply #5)

Wed Feb 13, 2013, 02:03 PM

11. Haha, +1. Perhaps Google did something evil to stop Apple from saving the day? nt.

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Response to Omaha Steve (Original post)

Wed Feb 13, 2013, 09:33 AM

2. "Future of TV" is bullshit. The future is streaming, and they want to control the software.

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Response to Omaha Steve (Original post)

Wed Feb 13, 2013, 09:43 AM

3. Great! no more GEM$NBC, yoo hoo!, a progressive company!!

Wait wut?!

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Response to Demonaut (Reply #3)

Wed Feb 13, 2013, 11:02 AM

6. We keep saying that the RW doesn't learn from history

I would say it is just the opposite and their ultimate objective here is control of information.

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Response to Demonaut (Reply #3)

Wed Feb 13, 2013, 11:42 AM

8. Will MSNBC Now Be Called "CCNBC"?......nt

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Response to Omaha Steve (Original post)

Wed Feb 13, 2013, 10:29 AM

4. I hate to say it

but this is where Rachel needs to start sending her resume out. Comcast will want her OUT as she is the one MSNBC person that the DLC fears.

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Response to DonCoquixote (Reply #4)

Wed Feb 13, 2013, 11:06 AM

7. Or they can just continue to slowly bend her will

Rachel has influence and I have seen changes in her over time.

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Response to Omaha Steve (Original post)

Wed Feb 13, 2013, 12:40 PM

9. So the story is also about GE selling its stake.

Wonder why GE is selling.....

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Response to Omaha Steve (Original post)

Wed Feb 13, 2013, 01:29 PM

10. I cut cable back in 2009

and life has been grand without it. Now that Netflix is doing shows like " House Of Cards" things are really looking good there.

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Response to Omaha Steve (Original post)

Wed Feb 13, 2013, 03:46 PM

12. Looks like more rate increases in the near future

while we still pay for the skyscraper they built in Philly and then for the 1st round of controlling NBC Universal.

And to think that 20 years ago, Bill Cosby tried to buy NBC and was rebuffed.

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Response to BumRushDaShow (Reply #12)

Wed Feb 13, 2013, 04:25 PM

13. My Feb bill was jacked up up by nearly $10.00 so the rate hikes have started in MN. It's absurd.

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