Comcast buys the rest of NBC: Did General Electric get robbed?

Some analysts say G.E. should have held out for more money

What would "GE Man" Jack Donaghy say?
(Image credit: Ali Goldstein/NBC)

On Wednesday, cable and internet provider Comcast announced that it would become the sole owner of NBCUniversal, purchasing the 49 percent stake that belongs to General Electric for $16.7 billion. The deal represents a huge bet by Comcast on traditional entertainment outlets, at a time when the industry is in a state of flux brought on by the advent of Netflix, Apple, and other internet-based entertainment providers.

In a sign of its eagerness, Comcast bumped up an option from a 2011 agreement that allowed it to purchase the rest of NBCUniversal within three-and-a-half to seven years. The company will own the NBC broadcast network, Universal Pictures, and several cable channels, including USA, Bravo, E!, MSNBC, and Telemundo. The company will also operate the Universal Studios theme park. In a separate deal, Comcast agreed to purchase 30 Rockefeller Plaza in New York City from G.E.

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Ryu Spaeth

Ryu Spaeth is deputy editor at TheWeek.com. Follow him on Twitter.