US media giant Comcast said Tuesday it was divesting its 15.8 percent stake in the A&E cable channel held through its NBCUniversal unit, getting some $3 billion.In documents filed with the Securities and Exchange Commission, Comcast said it was redeeming its stake in the joint venture with Disney/ABC and Hearst Communications.Comcast, which took control of the vast NBC television enterprise in 2011, said earlier this year it would sell its stake in A&E but had not indicated a price.
NEW YORK (Reuters) - Comcast Corp's NBCUniversal business exercised an option to sell "a substantial portion" of its stake in A&E Television Networks to joint-venture partners, a filing from the media company showed. Comcast, which owns almost 16 percent of A&E, exercised the option on March 26 and expects the deal to close in the second half of 2012, the company said in a filing with the Securities and Exchange Commission earlier this week. "The parties are still discussing how much of the stake will be sold," The Wall Street Journal reported, citing a person familiar with the matter. ...
BANGALORE: Realty major Prestige Estates Projects is set to unveil a little over Rs 1,000-crore deal to acquire a 63.5% stake in Exora Business Park from Red Fort Capital, people directly involved with the matter said. The deal values Exora at Rs 1,600 crore, with 8.5% capitalization rate, a percentage that determines the return on investment on rental assets. Prestige, which owns the remaining minority shares, is taking its stake to 100% through a combination of short-term loans and internal accruals.
While many cable subscribers around the country are dreading the impact that a merged Time Warner Cable and Comcast could have on pricing for TV and Internet service, some satellite customers have shrugged off the news.
Is Comcast Corp. (CMCSA) on the verge of getting regulatory approval to acquire a controlling stake in NBC Universal (NBCU)? A recent change at the helm of NBCU indicates this. Yesterday, Comcast and General Electric Co. (GE), the current owner of NBCU said in a joint statement that the existing COO of Comcast, Mr. Steve Burke will succeed the incumbent CEO of NBCU Mr. Jeff Zucker by 2010 end.