NBCU up for sale?
From Financial Times:
http://www.ft.com/cms/s/0/ebdbbdfe-7...nclick_check=1
(Please follow the link for the complete article.)
GE to decide on NBC after Olympics
By Francesco Guerrera, Joshua Chaffin and Aline Van Duyn in New York
Published: October 10 2007 22:00 | Last updated: October 10 2007 23:17
The fate of NBC Universal [the parent company of the SciFi Channel, USA Network, Bravo, etc.], General Electric’s entertainment unit, will be decided only after the Beijing Olympics, with executives at the US conglomerate ruling out a sale before August’s showcase event, according to people close to the situation.
NBC, whose value is estimated at about $40bn, has been the subject of repeated sale rumours because of its lagging performance and the awkward fit with the rest of GE’s industrial and financial businesses.
The issue is likely to resurface on Friday, when GE reports third-quarter earnings that should show signs of improvement at NBC.
People close to the situation say that Jeffrey Immelt, GE’s chairman and chief executive, will not consider the future of GE’s 80 per cent stake in NBC – which had sales of $16.2bn and profits of $2.9bn last year – before the Olympics.
**snippage**
GE executives argue that any decision to sell will depend on the overall effect on the conglomerate, particularly its valuation and tax rate.
Copyright The Financial Times Limited 2007
http://www.ft.com/cms/s/0/ebdbbdfe-7...nclick_check=1
(Please follow the link for the complete article.)
GE to decide on NBC after Olympics
By Francesco Guerrera, Joshua Chaffin and Aline Van Duyn in New York
Published: October 10 2007 22:00 | Last updated: October 10 2007 23:17
The fate of NBC Universal [the parent company of the SciFi Channel, USA Network, Bravo, etc.], General Electric’s entertainment unit, will be decided only after the Beijing Olympics, with executives at the US conglomerate ruling out a sale before August’s showcase event, according to people close to the situation.
NBC, whose value is estimated at about $40bn, has been the subject of repeated sale rumours because of its lagging performance and the awkward fit with the rest of GE’s industrial and financial businesses.
The issue is likely to resurface on Friday, when GE reports third-quarter earnings that should show signs of improvement at NBC.
People close to the situation say that Jeffrey Immelt, GE’s chairman and chief executive, will not consider the future of GE’s 80 per cent stake in NBC – which had sales of $16.2bn and profits of $2.9bn last year – before the Olympics.
**snippage**
GE executives argue that any decision to sell will depend on the overall effect on the conglomerate, particularly its valuation and tax rate.
Copyright The Financial Times Limited 2007
