- Associated Press - Friday, December 3, 2010

NEW YORK (AP) - As they wait for government approval, Comcast and General Electric have agreed to extend for 90 days their proposed deal that would see the nation’s largest cable TV operator take control of NBC Universal.

The extension was filed with regulators Friday as the deal was due to expire.

Comcast Corp. is preparing to take a 51 percent stake in a new NBC Universal by paying General Electric Co. $6.5 billion in cash and contributing cable channels like E! and Golf Channel worth $7.25 billion to the new venture.

GE is to shed its remaining stake in NBC Universal over the next seven years.

The government is examining concerns that Comcast could wield undue power over the distribution of online video.



Click to Read More

Click to Hide