Comcast says it is buying the rest of NBCUniversal from General Electric for $16.7 billion. The cable TV provider is buying the 49 percent stake several years ahead of schedule, taking advantage of low borrowing costs and what its CEO calls a "very attractive price." GE, meanwhile, is exiting the TV business to focus on its other ventures, such as manufacturing medical imaging equipment, airplane engines and electrical generators.
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LOS ANGELES — Comcast has agreed to buy the rest of NBCUniversal from General Electric several years ahead of schedule to take advantage of low interest rates and what its CEO calls a "very attractive price" of $16.7 billion. The nation's leading cable TV company is also paying $1.4 billion for properties that include NBCUniversal's headquarters at 30 Rockefeller Plaza in New York — the home of the fictional "30 Rock" TV show. By Ryan Nakashima.
GE LEAVES TV
NEW YORK — General Electric is saying goodbye to 30 Rock — the building and the TV business born there. It's another step in GE's efforts to focus on less glamorous — but theoretically more profitable — ventures such as manufacturing medical imaging equipment, airplane engines and electrical generators. By Scott Mayerowitz.
NEW YORK — NBC got its start in 1926 as the nation's first radio network. Its parent company, the Radio Corporation of America, figured people would buy radios if they had interesting things to listen to.
PHILADELPHIA — Comcast Corp. dates back to 1963, when businessman Ralph Roberts got into the cable TV business in its early days. He spent $500,000 for American Cable Systems, a company in Tupelo, Miss., that strung up cable to carry TV broadcasts to homes that couldn't get clear reception with antennas.
—EARNS-COMCAST. Comcast Corp.'s fourth-quarter net income rose 18 percent.
—COMCAST-GE-NBCUNIVERSAL-GLANCE. Comcast Corp. had $15.9 billion in revenue in the October-to-December quarter. Here's how this breaks down among different sources, such as cable TV and the broadcast network.
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