You and I know that the next best thing to having GE issue a statement on its corporate biz is having its CNBC issue a statement on GE corporate biz. So early this morning, the business channel’s reliable reporter David Faber went on air to deride a struggling Hollywood blog’s “big story” that GE and Comcast had clinched a $35B deal for NBCU. Faber told the cameras: “You can call it a big story, but there may not be much of a story at all at this point. It’s very hard to say where speculation and actual news lies on this. Nonetheless, an entertainment gossip site [Faber laughs] — this is where we are in journalism today — started a great deal of speculation on whether Comcast would buy or take control of NBC Universal. That is not the case.” Faber went on to stress there’s no deal for Comcast to buy GE’s NBCU. “Does it mean there is anything even remotely here and happening? No.” (Faber seemed in agreement with my own coverage last night that this is just more tire-kicking around the Vivendi put option and multiple “What if” scenarios.) Faber’s remarks follow a spokeswoman for Philadelphia-based Comcast emailing media outlets last night, “While we don’t comment on M&A rumors, the report that Comcast has a deal to purchase NBC Universal is inaccurate.” How humiliating for that struggling Hollywood blog, which might fare better to remember that it takes a long time to build a reputation for news accuracy, and just a blink of the eye to lose the trust of readers.
Yes Faber is usually a good reporter. But I think on this issue he only knows what his bosses are telling him. Comcast stock took a dive today when the news went out. So of course they don’t want to make it public until the deal is completely done. Otherwise, it seems that the share holders in Comcast don’t like the idea. Obviously Zucker did not completely deny it. He basicly said nothing to talk about here, move along and mind your work. Now they may have to rework the whole deal if Comcast stock stays low. Maybe a new lower price tag for NBCU.
This just proves what a joke The Wrap is. The site hires a bunch of has-beens who were laid-off from trade papers because they were dead weight and starts pumping out bull. Seriously, The Wrap is no better than Variety or THR.