The news at a glance

NBC Universal: Sizing up the Comcast deal

Cable giant Comcast last week finalized its deal to take control of NBC Universal, setting the stage for a potentially dramatic reshaping of the media landscape, said Cynthia Littleton and Jill Goldsmith in Variety.com. Assuming the deal passes regulatory muster, the new company would initially be 51 percent owned by Comcast, with former owner GE retaining 49 percent. Comcast CEO Brian Roberts envisions a “multi­platform” media company that can distribute programming over virtually any digital device. Indeed, the new company “will be scrutinized as a bellwether for showbiz’s ability to harness digital distribution to create new business models.”

But does Roberts see a future for NBC’s flagship broadcast network? asked Brian Stelter in The New York Times. Comcast, after all, has prospered since its founding, in 1963, by “converting broadcast viewers into cable customers.” And it has emphasized that “the deal’s purpose is to gain control over NBC Universal’s fast-growing cable channels.” Comcast insists that the broadcast network “will remain intact for the time being.” That’s scant reassurance for anxious employees of the broadcast division.

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Autos: GM’s youth movement

General Motors Chairman Ed Whitacre wasted no time overhauling the carmaker’s management, following last week’s resignation by CEO Fritz Henderson, said Tom Krisher in the Associated Press. GM’s board forced Henderson out because it was “upset that the automaker’s turnaround wasn’t moving more swiftly.” Whitacre promptly promoted a slew of younger executives, including Mark Reuss, 46, who steps up from engineering chief to head of North American operations. “Forty-something” Susan Docherty, formerly head of U.S. sales, will oversee worldwide sales, marketing, and service.

Bailouts: Bank of America repays U.S. loan

Bank of America said last week it would pay back the $45 billion it borrowed from Uncle Sam to weather the financial crisis, said Charles Gasparino in CNBC.com. The bank plans to repay the loan using

$26 billion in available cash, plus the proceeds of a $19 billion public offering of preferred stock. The move caps the career of departing CEO Kenneth Lewis, who wanted to “move BofA out of the government’s stranglehold” before leaving office.

Technology: Intel’s new chip comes up short

Intel has canceled plans to launch its first standalone graphics card, said Brooke Crothers in CNET.com. The card, based on an innovative chip design and intended for use in video games, was “not hitting performance targets,” and Intel decided to cancel its rollout rather than risk a hit to the company’s reputation. The chip, code-named Larrabee, combines multiple processors on a single surface, a sharp departure from conventional designs.

Investing: Star bond manager loses power struggle

Jeffrey Gundlach, who oversaw more than $60 billion of money manager TCW’s $110 billion in assets, has been ousted after losing a battle for control of the company, said Eleanor Laise in The Wall Street Journal. In recent years, Gundlach, 49, “received much acclaim” for his “prescient” warnings about rot in the subprime mortgage market. Insiders at TCW say Gundlach angered higher-ups after threatening to take “key talent” with him to another firm.