Comcast becomes sole owner of NBC Universal
| Posted: Feb 15, 2013 | Updated: Oct 19, 2014 - 9:25:27 AM
Comcast will now be the sole owner of NBC Universal, the parent company of the Universal theme parks
. Comcast already owned a 51% stake in Universal, but has announced that they are purchasing the remaining 49% from General Electric at a cost of $16.7 billion. The deal should be done by the end of 2013's first quarter. Comcast has had this acquisition in their plans for some time, but this deal will speed things along.
Brian L. Roberts, Comcast Chairman and chief executive, said, "Our decision to acquire GE's ownership is driven by our sense of optimism for the future prospects of NBC Universal."
The deal didn't come easily; Comcast will be the first cable company to own a major TV network, and spent a year getting regulator approval. In the sale, Comcast will also take over 30 Rockefeller Plaza and CNBC's New Jersey headquarters.
Comcast's 2012 revenue was up 12 percent to $62.5 billion from the previous year.