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Comcast to buy rest of NBCUniversal for USD 16.7 bln

2013-02-13 09:06:00| Telecompaper Headlines

(Telecompaper) US cable operator Comcast has agreed to buy the rest of NBCUniversal from GE for USD 16.7 billion. This includes the remaining 49 percent in the broadcast and production company and properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC's headquarters in New Jersey for USD 1.4 billion. Comcast acquired an initial 51 percent in NBCUniversal two years ago, when it also agreed options to take full control from GE. The latest takeover will be funded with USD 11.4 billion of cash on hand, USD 4.0 billion of senior unsecured notes to be issued to GE, USD 2.0 billion of borrowings under bank credit facilities and USD 725 million of preferred stock to be issued to GE. The takeover is expected to close by the end of the first quarter.

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