GE ceding control for $9.1 billion
Meg James Los Angeles Times
Burke
(Full-size photo)
HOLLYWOOD – In a momentous shift in the balance of power of the entertainment industry, cable television giant Comcast Corp. on Thursday made it official by announcing that it was buying control of NBC Universal from General Electric Co.
The proposed $30 billion transaction is the culmination of the longtime ambition by Comcast’s chief executive, Brian Roberts, to transform his family-controlled Philadelphia company from a passel of distribution pipes into a leading producer of movies and TV shows and owner of prominent cable channels.
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