WSJ: Comcast, GE Agree on $30 Billion NBCU Valuation

Authored by Mark Hefflinger on November 9, 2009 - 8:55am.

New York - Comcast (NASD: CMCSA), the nation's largest cable TV provider, has agreed with General Electric (NYSE: GE) on a valuation of $30 billion for NBC Universal, the film and television company it is seeking to acquire, The Wall Street Journal reported, citing people familiar with the matter. The sources told The Journal that the two companies "are now ironing out the final details of an agreement...which could come as early as the end of this week."

It's unclear whether Vivendi -- which controls 20% of NBC Universal, while GE holds the other 80% -- has agreed to the current proposed terms.

GE and Comcast last week reportedly met with debt-rating companies to discuss the $9 billion in debut NBC Universal would be expected to shoulder as part of the deal, and expect to hear back this week.

The deal under consideration would see Comcast contribute cash and merge its own cable TV networks with NBC Universal, and hold a 51% stake in the new entity, with GE owning the rest, and Vivendi to be bought out.

People close to the talks told The Journal they expected regulatory probes around the deal to take up to an entire year.

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