View Full Version : Comcast, G.E. Announce Deal on NBCU

December 3rd, 2009, 03:54 AM

or http://bit.ly/5D75LO

Comcast, G.E. Announce Deal on NBCU
NBCU chief Jeff Zucker to lead new joint venture, reporting to Comcast COO Steve Burke

By B&C Staff -- Broadcasting & Cable, 12/3/2009 6:25:05 AM

Just over two months since news of talks between the two companies surfaced, Comcast Corp. and General Electric announced a deal Dec. 3 to create a new joint venture entertainment company from the combined assets of NBC Universal and Comcast's cable networks.

REST AT LINK ABOVE - no mention of how this may affect SG franchise

Pharaoh Atem
December 3rd, 2009, 05:31 AM
i thought MGM owned the rights to stargate ???

nevermind i got it now

December 3rd, 2009, 09:05 AM
i thought MGM owned the rights to stargate ???
nevermind i got it now

Yup, MGM owns the Stargate franchise, but SyFy airs it, and SyFy is part of NBCU, and if NBCU, or more precisely, the new owners go, hey, let's re-imagine (har har) this network, and if some nitwit high up thinks SG just doesn't fit the bill....

Oh wait, guess what, who owns SyFy now? Why, we the people do! Yes, they all got TARP money! Look at how well they ran their banks, and this could be an indication of how well they'll run the network *cough cough*


DECEMBER 3, 2009, 12:04 P.M. ET UPDATE: 5 Banks Financing $9.85B Of Comcast's NBCU Buy -Sources

NEW YORK (Dow Jones)--A group of five banks including J.P. Morgan Chase & Co. (JPM), Goldman Sachs (GS) and Morgan Stanley (MS) are providing $9.85 billion in new debt for Comcast Corp.'s (CMCSA) purchase of a 51% stake in NBC Universal from General Electric Co. (GE), several people familiar with the matter said.

Bank Of America Merrill Lynch (BAC) and Citigroup (C) are also in the bank group. Comcast agreed Thursday to buy control of NBC Universal for $6.5 billion in cash and $7.25 billion worth of cable channels.

The deal followed an announcement that Vivendi SA (VIV.FR) would sell its 20% stake in NBC Universal to General Electric for $5.8 billion. That deal paved the way for Comcast to take majority-ownership of NBC Universal from GE.

The new debt is being put in place for the combined entity of NBC Universal and Comcast. The new entity will be controlled by Comcast.

The financing includes a roughly $6 billion, 364-day bridge loan and a three-year term loan of about $3 billion, according to one of the people familiar with the matter. In addition, there is also a $750 million three-year revolving credit facility, this person said.

The banks arranging the financing are likely to cast the net even wider and are expected to approach other institutions to take part in the deal, this person added.

The bridge loan is expected to be refinanced in the investment-grade corporate bond market. Any bonds issued by the combined entity would be well received by investors because of the strong reputations of both Comcast and NBC Universal, said James Lee, fixed income analyst at Calvert Asset Management. "They are well recognized and there are lots of existing bonds" from Comcast, Lee said.

Comcast has $29.4 billion in outstanding debt, according to Moody's Investors Service and Standard & Poor's. Indeed, Comcast bonds are stronger in trade Thursday, according to online trading platform MarketAxess.

The new joint venture is expected to maintain maximum leverage of 2.75 times and remain investment grade, executives involved in the transaction said during a conference call Thursday.

December 3rd, 2009, 12:40 PM
Check out this related story:


What impresses Comcast about NBC (pic)