Will Buffet’s GE get rid of NBC?


NBC Universal executives declined to deny a report Wednesday night that Comcast, the cable giant, is in talks to buy the television and movie company from General Electric.Comcast also did not deny the report that bankers for the two sides discussed a possible deal Tuesday in New York.

Such talks often lead nowhere, but rumors have circulated for months that GE might be looking to unload the news and entertainment company. NBC is stuck in fourth place among broadcast networks, and Universal Studios is enduring a rough movie season.”We have no comment,” NBC Executive Vice President Allison Gollust said.Comcast spokeswoman DArcy Rudnay also would not address the reported talks. “While we dont comment on M&A [mergers and acquisitions] rumors, the report that Comcast has a deal to purchase NBC Universal is inaccurate,” Rudnay told Bloomberg News.That, however, was not what was reported by TheWrap.com, a Hollywood-based Web site founded by former Washington Post and New York Times reporter Sharon Waxman. That account cited sources who have knowledge of the talks.Waxman noted that Comcast has a greater market value, at $48.4 billion, than NBC Universal, which has fallen to an estimated $35 billion in value, from about $55 billion a year ago. Comcast also held nearly $4 billion in cash at the end of the second quarter.Recent reports indicate that Vivendi, a minority stakeholder in NBC, is preparing to sell its 20 percent share of the company, which would make it easier for GE to sell the network.

via Principals Mum About Report of Comcast Deal to Buy NBC Universal – washingtonpost.com.

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About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on October 2, 2009, in Financial Markets, Obamanomics, TARP and tagged , , , , , . Bookmark the permalink. 1 Comment.

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