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GE, Comcast Reach Agreement on Valuing NBC Universal

November 9, 2009
by Sam Schechner and Jeffrey McCracken
Reporters, The Wall Street Journal

Sam Schechner and Jeffrey McCracken

General Electric Co. (GE) and Comcast Corp. (CMCSA) have settled on how to value NBC Universal now and in the future, clearing a key obstacle to giving Comcast control of GE’s television and movie company, according to people familiar with the matter.

After weeks of wrestling, both sides have agreed to value NBC Universal in the neighborhood of $30 billion, people close to the talks said. The agreement includes a mechanism that could reduce the cash Comcast would have to kick in when the deal closes, two of those people said.

The two companies are now ironing out the final details of an agreement, according to the people. An announcement could come as early as the end of this week, the people said.

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