Comcast eyes NBC Universal
p2pnet news view P2P:- In the latest move in the corporate monopoly game, Comcast, America’s largest cable company, may be after General Electric’s (GE) NBC Universal.
“In NBC Universal it would get its hands on not only a big broadcast network and movie studio, but also several powerful cable channels, including USA, Syfy, CNBC, MSNBC and Bravo,” observes the Los Angeles Times.
But “if” is the operative word.
Comcast has denied a report from The Wrap’s Sharon Waxman saying it’d sealed a deal to pay $35 billion for NBC Universal,” says DailyFinance, quoting a Comcast spokesperson as saying:
“While we do not normally comment on M&A rumors, the report that Comcast has a deal to purchase NBC Universal is inaccurate.”
And NBC Universal was, “similarly tight-lipped, according to the Washington Post.
“GE, which owns 80 percent of NBC Universal, is also said to be entertaining offers from buyers other than Comcast, including possibly Time Warner, the media giant that owns CNN and is itself the subject of speculation that it might spin off Time Inc., its storied stable of magazine titles,” says DailyFinance, continuing »»»
French media giant Vivendi owns the remaining 20 percent of NBC Universal and has been weighing whether to sell its stake, an option it can excercise every year in November, per the 2004 deal with GE. News of the cable giant’s interest may spur Time Warner, which is sitting on about $7 billion cash, to get off the sidelines. (Time Warner is preparing to spin off AOL, which publishes DailyFinance.)
Comcast, which has about $4 billion cash on hand, is hungry to gain control of a major media company in part because its new cable subscriber growth is slowing, but also to feed its ambitious plan to provide content “on-demand” through its cable pipes. Comcast has nearly 25 million cable subscribers.
If Comcast bought NBC Universal, the cable giant would gain control of a legendary — if ailing — broadcast network and movie studio, as well as several popular cable channels, including CNBC, MSNBC, Bravo and Telemundo, the Spanish-language station.
Meanwhile, “Other suitors have been rumored to be interested in NBC-Universal, including Time Warner,” says The Wrap, although, “Time Warner has denied any interest in a purchase.”
The talks, “come after a rough summer for Universal Pictures, which had one of the worst box office runs in the studio`s recent past,” it says, adding:
“And NBC has remained mired in fourth place among broadcast networks.
The message transmitted at a tense board meeting in New York in July — where top NBC-Universal executives including Jeff Zucker, Ron Meyer, Marc Shmuger and David Linde all met with GE’s CEO Jeff Immelt and Vivendi representatives — was that something had better change soon.”
Los Angeles Times – Comcast in deal talks with NBC Universal, September 30, 2009
The Wrap – [Updated] Comcast in Talks to Buy NBC-Universal from General Electric, September 30, 2009
DailyFinance – Comcast said to be weighing NBC bid; denies report of $35 billion deal, September 30, 2009
Washington Post – Comcast-NBC Deal Possible, October 1, 2009
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