Comcast poised to get NBC Universal

From CNET News.com: Comcast is very close to sealing the deal to acquire NBC Universal, CNBC anchor and reporter David Faber reported Tuesday. The only thing left to do is sign the papers.

Faber said in a story posted on the CNBC Web site that the deal is expected to be formally announced on Thursday. But CNET sources close to the deal say the final details could take longer to tie up, and the final announcement about could be pushed back until early next week.

Earlier Tuesday, The New York Times and The Wall Street Journal reported that General Electric, which owns 80 percent of NBC Universal, had reached a tentative agreement with French media company Vivendi, which owns 20 percent of NBC Universal. GE agreed to pay $5.8 billion to buy back the 20 percent stake, reports said.

The Vivendi stake was the only major obstacle standing in the way of an agreement between GE and Comcast. It's been reported that the companies have valued the deal at $30 billion.

While the value sounds high, in reality Comcast is getting a pretty good deal. The way the transaction is structured, Comcast would contribute its cable TV stations and $6 billion in cash to get 51 percent of NBC Universal. And GE would contribute all of the NBC Universal assets, including the movie studios, cable channels, theme parks, TV production and broadcast properties for a 49 percent stake in the company. The newly formed joint venture would then take on an additional $9 billion in debt.

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