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.
Comcast Corporation (CMCSA), the largest broadcasting and cable company in the world by revenues, is set to release its 2QFY14 earnings on July 22, before the opening bell.
Comcast has gained around 5.15% year-to-date (YTD) after positive first-quarter results. However, its closest competitor, Time Warner Cable Inc (TWC), has returned around 10% YTD, 4.85 percentage points (ppts) more. Similarly, the company’s stock has been outperformed by the S&P 500 Cable and Satellite index by 3.6 ppts over the same period.
Investor's Business Daily - Blackstone is offering to sell its 50% stake in 2 Universal Studios theme parks back to NBC Universal. Universal said in an SEC filing that NBC Universal â now controlled by Comcast (NASDAQ:CMCSA - News) in a joint venture with General Electric â has until June 12 to decide on the offer. NBC Universal said it's studying the proposal. Blackstone Group owns SeaWorld in Orlando and manages $140 bil in real estate, hedge funds and various businesses. Comcast, Blackrock and GE fell about 3% each.
French media group Vivendi has accepted 5.8 billion dollars for its share of NBC Universal, paving the way for General Electric to sell a controlling stake in the company to Comcast, a source close to the matter said."GE and Vivendi reached a deal that values Vivendi's share in NBC at 5.8 billion dollars," said the source who requested anonymity.GE, which owns 80 percent of NBC Universal, has been negotiating with Vivendi for weeks over how much the French company will pocket for its 20 percent stake in the media and entertainment giant.
French group Vivendi said on Wednesday that it had sold its remaining 12.34 percent stake in US media firm NBC Universal to General Electric for $3.8 billion (2.8 billion euros).The sale was made under a December 2009 deal between the two companies in which Vivendi agreed to sell all of its 20 percent stake in NBC Universal to General Electric once a merger between NBC Universal and Comcast is approved by US regulators.Vivendi said in September it had sold a 7.66 stake in NBC Universal to General Electric for 2.0 billion dollars.
French group Vivendi said on Monday it had sold about a third of its interest in US media firm NBC Universal to General Electric for 2.0 billion dollars.Vivendi, which held 20 percent of NBC Universal, has sold a stake of 7.66 percent to General Electric for payment in cash, a Vivendi spokeswoman told AFP.Vivendi would sell its remaining 12.34-percent stake to GE for 3.8 billion dollars once a merger between NBC Universal and Comcast is approved by US regulators.Vivendi previously held 20 percent in NBC Universal, with US conglomerate GE owning 80 percent.