Comcast Buying the Rest of GE's Stake in NBC

The New York Times reports Comcast said Tuesday that it has agreed to acquire General Electric’s remaining 49 percent stake in NBCUniversal for approximately $16.7 billion, completing a sale process that was expected to take several more years.

The acquisition will wrap up by the end of March, Comcast said in a news release on Tuesday.

“This is an exciting day for Comcast as we have agreed to accelerate the purchase of NBCUniversal,” Comcast’s chief executive, Brian

Roberts, said in a statement. “The management team at GE has been a wonderful partner during the past two years and their support has been very valuable. Our decision to acquire GE’s ownership is driven by our sense of optimism for the future prospects of NBCUniversal and our desire to capture future value that we hope to create for our shareholders.”