Comcast Buys the Rest of NBC From General Electric

We already told you today how Comcast’s ownership of NBC had lifted the parent company to newly profitable heights. Well, that was when Comcast owned only 51 percent of the company. Now it’s buying out the rest of NBC from minority partner General Electric, the broadcast network’s former owner. Such a transition been planned since the original sale; today’s announcement merely accelerates the timetable.

AP reports: “Comcast says it’s buying General Electric’s 49% stake in NBCUniversal joint venture for $16.7 billion. Comcast had bought a majority stake in the television and movie company in 2011. It had planned to take a larger stake in it over time.”