Comcast, NBCU Finalize Deal: Combined Entity Will Have Unparalleled Reach
By Joe Mandese
- The deal combines the biggest operator of cable and broadband communications services with one of the most powerful and broadest reach broadcast operations, giving the merged entity unparalleled distribution, and some of the most popular programming content and brands ever.
- Philadelphia-based Comcast will control a 51% stake to former NBCU parent GE’s 49%.
- Under the terms of the transaction, GE will contribute to the joint venture NBCU’s businesses valued at $30 billion, including its cable networks, filmed entertainment, televised entertainment, theme parks, and unconsolidated investments, subject to $9.1 billion in debt to third party lenders.
- Comcast will contribute its cable networks including E!, Versus and the Golf Channel, its ten regional sports networks, and certain digital media properties, collectively valued at $7.25 billion, and make a payment to GE of approximately $6.5 billion of cash subject to certain adjustments based on various events between signing and closing.
(www.mediapost.com)
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About Ben Sturner
Ben Sturner is the Founder and CEO of Leverage Agency, one of the most respected, innovative, resourceful and ambitious sports and entertainment branding sponsorship agencies on Madison Avenue. Sturner has taken his multi-million dollar business from a small start-up in his New York City apartment to a premiere agency that has secured deals for clients including: Jimmy Kimmel Live, AVP Pro Beach Volleyball, KFC, Gillette, Progressive Insurance, Southwest Airlines, Reebok, Comcast, Anheuser Busch, Fremantle Media, Mark Burnett Productions and NBC’s Prime Time Celebrity Apprentice, Reveille, Radical Media, as well as other top-tier brands. Ben has been named NYC Entrepreneur of the month in TrueNYC.com and has been interviewed and featured on ESPN, NBC, CNBC, USA TODAY and WALL STREET JOURNAL as an expert in sports and entertainment sponsorship.
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