Comcast Finally Acquires NBC Universal
Comcast has finally realized its goal of acquiring NBC Universal. Federal regulators allowed the acquisition after setting stipulations that must be followed to ensure that the marketplace can remain competitive.
The regulations will reportedly cover prices of internet service, competition with rivals and online video. Without these conditions, and many others, the union would not have been approved according to a statement made by the The Justice Department, which approved the deal along with the FCC.
The company has been trying to purchase NBC for some time now, and it was in December 2009 that the two media giants agreed on a $30 billion deal that would grant Comcast a 51 percent share of NBC. General Electric will retain ownership of the remaining 49 percent. Comcast released a statement that they expect the deal to be complete by the end of the month.
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