Update 10/1/09: there are a variety of media reports where both Comcast and NBC are denying that the story reported by The Wrap is accurate.
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Via The Wrap:
Comcast, the nation’s leading provider of cable, entertainment and communications products and services, is in talks to buy the entertainment giant NBC-Universal from General Electric, according to a knowledgeable individual.
Deal points were hammered out at a meeting among bankers for both sides in New York on Tuesday, executives familiar with the meeting said.
A spokeswoman for NBC-Universal had no comment. A spokeswoman for Comcast also had no comment.
Wow. Cool
Mr Z will be checking his golden parachute clause this week.
This seems like a horrible idea. Comcast ruins everything they touch.
How would this affect Hulu?
For the last 6 years, in two locations I’ve had very good Comcast experiences. In the last year I’ve had one outage with my Internet (though it lasted about 8 hours), and no outages in terms of TV content. The HD looks good and the On Demand offering is great in spots, and where it isn’t, it’s not usually a Comcast decision (like HBO pulling its HD off On Demand for a while, or NBC charging for shows).
At the risk of putting the jinx on myself, I am a happy Comcast customer.
Chief, I’m not sure how long NBC Universal’s commitment to Hulu runs through. If a deal were done, at least initially I’d imagine it wouldn’t affect things at all. But when it’s time to “re-up” that’s another story.
I think the real problem with this is having an MSO owning several of the top 20 cable networks. That strikes me as conflict of interest and could lead to many more Versus situations, only this time the power will all be in Comcast’s court and they can continue to drive carriage fees up, which will force their competition to raise their prices.
Julia, though I think it would get some regulatory scrutiny, I’m not sure its much different than the situation Time Warner is in with its MSO and cable networks. different, yes, but much different? I think your point about carriage is valid, since TNT has a significantly higher carriage fee than USA in the reports I’ve seen.
Hulu won’t be affected if it goes to Comcast I bet. NBC Universal runs it, and if they try to mess with Hulu they have to first convince Disney and News Corp.
The other TWO owners. Plus the holding company that owns stock in Hulu as well
GE is selling it too
i thought just Vivendi was selling there part
is NBC gonna have to move out of 30 Rockefeller or is that owned by NBC
Robert, I don’t like how Time Warner owns cable networks, either. Though didn’t they just recently split the MSO from the rest of the corporation? Or did I imagine that?
I’m wondering if some of the lesser networks of NBCUniversal like Sleuth and Chiller will get the axe or get some kind of work over? USA is great, Syfy seems to be doing better but I bet everyone in the ‘family’ is going to be putting their best foot forward to prove their a going concern.
Julia, you didn’t imagine it. TW Cable is a separate public corporate entity now. Not sure how much ownership TW retains.
Julia, touche’, indeed it has been a separately traded entity for a while (not sure how long, but it has been a while). I’m not sure what % of TWC’s stock, if any, is held by TWX though.
As I pointed out on another thread, NBC/Uni is seriously in play. This is just the latest rumor of many people on the lot at Universal City have heard in the last few months. GE sees the division as a drag on their margins, and are tiring of entertainment’s unpredictability.
No matter what, Zucker will find a way to fall up. Dude can’t be stopped. He’s like the Terminator.
BTW, I believe 30 Rock is not owned by GE or NBC. I think it’s owned by a separate real estate company.
the rumor is $35billion price tag but comcast denying it at the moment
Well, at least the evening lineup on MSNBC should not be worried. Their ratings are so super-fantastic that they are safe… Oh, just realized I was looking at FNC’s ratings.
Yeow, maybe Keith should start looking for another full time job.
Perhaps Barbara will help Rachel with a spot on The View. Hmmm not likely after that whole Rosie thing imploded.
Remember all that talk about NBC wanting to charge cable companies carriage fees as an extra revenue stream. Well if this deal plays out, I doubt that the regulators would allow Comcast to charge the competition for NBC broadcast. That’s a plus.
While I think it’s possible that there’s merit to this rumor… I don’t think that this article is for real. Firstly, they’d need permission from the government (FCC or some DOJ bureau maybe). But more importantly, their meeting wouldn’t be just between a bunch of bankers… they’d have loads of lawyers present if it was even semi-serious. That plus the fact that the source is particularly vague leads me to believe that this is a rumormill issue.
for some reason I find the actual business behind television, and entertainment in general, very interesting. which is odd, because I really don’t follow the stock market or economy or anything else business related. I don’t know what to make of the news other then it made me say “wow” a few times.