BREAKING: AP reports GE, Vivendi reach deal on Vivendi's 20% stake in NBC Universal; Comcast deal now seen as imminent
The Associated Press is reporting this evening that a tentative deal has been reached between General Electric and Vivendi of France for GE to purchase the 20% stake in NBC Universal currently owned by Vivendi. Vivendi will receive $5.8 billion from GE, and GE plans, in turn, to then sell 51% of NBCU to Comcast Corporation for $30 billion. MY VIEW: Why in the world Vivendi sees this as a fair deal is beyond all possible comprehension. I still think this is a very, very, VERY bad idea. Comcast can make claims from here to eternity that they won't take the best of what's left of NBC's programming and chuck it right on over to cable, but the second they can do it, they will. And it won't be pretty.