Friday, December 4, 2009

Drowning NBC Grabs Hold of Cable

Comcast Corp., the larguest cable operator in the U.S., this week reached agreement to purchase NBC Universal from General Electric.

The deal results in a joint venture in which the Philadelphia-based Comcast owns 51 percent and GE 49 percent. GE will receive roughly $6.5 billion from Comcast, which also is providing cable channels to the venture, including E!, the Golf Channel and Versus.  NBC's cable channels, including SyFy, Bravo, USA, MSNBC and CNBC, are what sparked Comcast's interest in the acquisition. NBC Universal honcho Jeff Zucker keeps his job, but will report to Comcast bigwig Steve Burke.

"The Biggest Loser," is not only one of NBC's few hit shows, but also an apt description of the faltering network, which ranks fourth in viewers among ABC, CBS and Fox.

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