Comcast plans to acquire the remaining 49% of NBCUniversal held by General Electric
Comcast, a division of NBCUniversal, confirmed Tuesday that it would sell its stake of 15.8% of A&E Television Network for a total of US$3.03 billion to Disney and Hearst, the company’s partners in the A&E joint venture. A&E Television Networks includes the A&E, History Channel, Lifetime and Biography (Bio). Comcast, the biggest provider of cable television in the U.S., had announced in May that it had utilized an option requiring Disney and Hearst to buy back a significant portion of their ownership in A&E. The company currently owns a majority of NBCUniversal and plans to acquire the remaining 49% held by General Electric.In the wake of the news, Comcast shares dropped US$.06 to $31.22, while the Disney stock fell US$.73 to $47.27.
