Comcast and GE Complete NBC Deal

Comcast and General Electric (GE) completed their deal, creating the NBCUniversal joint venture. GE contributed NBC Universal’s businesses, including its cable networks, filmed entertainment, televised entertainment, theme parks, and unconsolidated investments. Comcast contributed its cable networks, including E!, Versus and the Golf Channel, its regional sports networks, certain digital media properties, and made a payment to GE. The new company is 51 percent owned by Comcast, 49 percent owned by GE, and managed by Comcast. It maintains its headquarters in New York City.
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• In approving the Comcast-NBCU mega-merger, the FCC and the Department of Justice imposed a number of conditions and commitments which generally will remain in effect for seven years. Among these, online video distributors (OVDs) are guaranteed the ability to obtain Comcast-NBCU programming. Comcast must also offer standalone broadband Internet access services at reasonable prices and of sufficient bandwidth so that customers can access online video services without the need to purchase a cable television subscription from Comcast.