General Electric on Friday said that operating profit at NBC Universal fell 30 percent in the fourth quarter as advertising revenue continued to falter amid higher programming costs.
NBCU’s $602 million operating profit compares with $865 million in the same quarter a year earlier.
Revenues in the quarter fell 3.7 percent to $4.27 billion. For the fiscal year, revenues were down 9 percent to $15.4 billion.
Comcast has agreed to take over the Universal City-based broadcast and cable business in a $30 billion deal that is awaiting U.S. antitrust approval. Hearings are set to begin next month.
