Los Angeles Business Journal

Comcast to Own All of NBCUniversal

By Jonathan Polakoff Tuesday, February 12, 2013

Comcast Corp. will own all of entertainment giant NBCUniversal after purchasing General Electric Co.’s 49 percent stake in the company for $16.7 billion.

As part of the deal, announced Tuesday, GE will also sell related real estate assets to NBCUniversal including NBC’s headquarters at 30 Rockefeller Plaza in New York, for $1.4 billion.

NBCUniversal owns cable networks such as the E! channel in Miracle Mile, as well as its Universal Pictures movie studio, theme parks and other entertainment entities.

GE initially reduced its ownership stake in NBCUniversal from 80 percent to 49 percent in a December 2009 deal that made Comcast the majority owner. GE plans to use proceeds from the sale to increase its share repurchase program.