General Electric is out of the NBCUniversal business. Comcast today closed its $16.7B deal to buy the 49% of the entertainment company that GE continued to own after the companies formed a joint venture in January 2011. The cable giant says in an SEC filing that it also bought NBCU’s headquarters at 30 Rockefeller Plaza — part of a $1.4B real estate agreement that also gave Comcast CNBC’s headquarters in Englewood Cliffs, NJ. The Philadelphia-based company says that its payment consisted of $10B in cash (including $3.2B from NBCU), $725M in preferred stock, $4B in senior unsecured securities, $750M from cash funded by commercial paper, and $1.25B from NBCUniversal’s credit facility. “We are excited the transaction has closed and look forward to taking full advantage of the opportunities for growth and innovation at our combined company,” Comcast says.
Comcast Completes Acquisition Of GE’s 49% Stake In NBCUniversal
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