About the Partnership
Overview of Deal
GE and Comcast have signed a definitive agreement to form a joint venture that will be 51 percent owned by Comcast, 49 percent owned by GE and managed by Comcast. The joint venture, which will consist of the NBC Universal businesses and Comcast’s cable networks, regional sports networks and certain digital properties and certain unconsolidated investments, will be well positioned to compete in an increasingly dynamic and competitive media and digital environment.
The combination of assets creates a leading media and entertainment company with the proven capability to provide some of the world’s most popular entertainment, news and sports content, movies and film libraries to consumers anytime, anywhere. The joint venture will provide consumers the broadest possible access to content, and support high-quality, award-winning content development across all platforms including film, television, and online. It will be anchored by an outstanding portfolio of cable networks and regional sports networks that will account for about 80 percent of its cash flow, including USA, Bravo, Syfy, E!, Versus, CNBC and MSNBC. The joint venture will be financially strong with a robust cash-flow-generation capability.
Partnership Fact Sheet (PDF) | Frequently Asked Questions (PDF) | Cable Overview (PDF)
Latest Press Releases
- 3 December 2009
- Comcast and GE to create leading entertainment company (PDF)
Executive Leadership
About GE
GE is a diversified global infrastructure, finance and media company that's built to meet essential world needs. From energy, water, transportation and health to access to money and information, GE serves customers in more than 100 countries and employs about 300,000 people worldwide.
About Comcast
Comcast is one of the nation's leading providers of entertainment, information and communication products and services. With 23.8 million cable customers, 15.7 million high-speed Internet customers, and 7.4 million Comcast Digital Voice customers, Comcast is principally involved in the development, management and operation of cable systems and in the delivery of programming content.
About NBC Universal
NBC Universal is one of the world’s leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. NBC Universal owns and operates a valuable portfolio of news and entertainment networks, a premier motion picture company, significant television production operations, a leading television stations group, and world-renowned theme parks.
Caution Concerning Forward-Looking Statements
This document contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These statements are made on the basis of the views and assumptions of management. Particular uncertainties that could cause actual results to be materially different than those expressed in these forward-looking statements include: the timing of, or ability to obtain, necessary regulatory and governmental approvals on acceptable terms; the timing and completion of the financing of NBC Universal on contemplated terms before the closing of the proposed joint venture; the receipt of an investment grade rating from the rating agencies of the proposed joint venture between GE and Comcast; adverse developments in the business and operations of NBC Universal, including potential disruption that may make it more difficult to maintain business and operational relationships; and the successful combination, operation and overall performance of the joint venture post closing. For GE, an additional uncertainty includes its ability to redeploy its capital into high-growth technology businesses. For Comcast and NBC Universal, additional uncertainties include the ability to integrate the programming assets of Comcast and NBC Universal in the new joint venture; the ability of the new joint venture to create popular programming, to develop new digital products and services, and to succeed in the highly competitive media industry; the ability of the new joint venture to generate attractive financial returns and strong cash flows; and, the effect of any conditions that regulators may impose in permitting the transaction to proceed. These uncertainties may cause actual future results to be materially different than those expressed in these forward-looking statements. None of GE, Comcast nor NBC Universal undertake to update these forward-looking statements.
The History of NBC Universal
NBC Universal officially combined in May 2004 and shares a remarkable history of collaboration and innovation that resulted in 39 Humanitas Awards, 16 Peabody Awards, the longest running public service campaign, The More You Know, and much more.
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What's On? A new Comcast/NBCU media venture
SyFy and Bravo, say "hello" to the Golf Channel and E! The popular cable networks are just a few of the recognizable names that will be under one roof with today’s announcement that Comcast and GE have signed a definitive agreement to form a new joint venture.
NBC Universal Milestones
NBC Universal represents two successful companies joined together to form one global powerhouse. Although the companies officially combined in May 2004, they share a remarkable history of collaboration and innovation.
Latest Press Releases
- 3 December 2009
- Comcast and GE to create leading entertainment company (PDF)
Press Contacts
Allison Gollust
NBC Universal
Executive Vice President Corporate Communications
+1 212 664 3220
Media Downloads
If you have a specific need for images, please contact Megan Parker.
Investor Relations
Thursday, December 3, 2009, 8:30a.m. ET
Investor Webcast Regarding NBC Universal
This webcast was hosted by GE Chairman & CEO Jeff Immelt, GE Vice Chairman & CFO Keith Sherin and President & CEO, NBC Universal Jeff Zucker.
Investor Contacts
Trevor A. Schauenberg
GE Corporate
Vice President Corporate Investor Communications
+1 203 373 2424
Regulatory Information
Regulatory Commitments
In connection with our applications to federal regulators for approval of this venture, we intend to make a number of affirmative commitments for how we will use these assets to better meet the entertainment, communications, and information needs of the American public. These commitments expand on the strengths that Comcast and NBCU have built over the years, and the new opportunities that this combination makes possible.
While we believe that this transaction is, and will be determined to be, pro-competitive, pro-consumer, and strongly in the public interest, we recognize that competitive concerns will be raised about the combination of such significant multiplatform assets in a single company. Therefore, we also intend to make a number of affirmative voluntary commitments in our applications for approval that we believe will effectively address any such concerns.
In the letter below, David Cohen, executive vice president, Comcast, outlines some of the key commitments we intend to include and expand upon in our public interest filing with the Federal Communications Commission and with the relevant antitrust agency as appropriate.
Comcast Regulatory Commitment Letter (PDF)
Ten Myths – and realities – about the Comcast/NBC Universal transaction (PDF)
Contact Information
General Contact Information
For general questions or comments about this transaction, please use our Feedback and Inquiries form.
Press Contacts
Allison Gollust
NBC Universal
Executive Vice President Corporate Communications
+1 212 664 3220
Investor Contacts
Trevor A. Schauenberg
GE Corporate
Vice President Corporate Investor Communications
+1 203 373 2424
Comcast Contact Information
For comments or questions regarding Comcast, please visit Comcast’s transaction Web Site.