GE Aerospace (GE): Comcast, General Electric Complete Merge...

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mkendra

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Sunday, 01/30/2011 12:34:37 PM

Sunday, January 30, 2011 12:34:37 PM

Comcast, General Electric Complete Merger Deal >CMCSA

Jan 29, 2011 12:25:08 (ET)

Comcast Corp. (CMCSA) has completed its takeover of NBC Universal, creating a $30 billion media giant.

In a statement on Saturday, Comcast said the transaction closed Friday. Comcast, the top provider of video and residential Internet service in the U.S., acquired a 51% stake in NBC Universal from General Electric Co. (GE).

Under the terms of the transaction, GE contributed to the joint venture NBC Universal Inc.'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 will maintain its headquarters in New York City.

(END) Dow Jones Newswires

January 29, 2011 12:12 ET (17:12 GMT)

Deeds, not creeds.