MUMBAI: American media and technology company Comcast Corporation will take complete control of NBCUniversal by acquiring General Electric?s (GE) entire 49 per cent common equity stake in the joint venture for approximately $16.7 billion.

NBCUniversal will also purchase from GE the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC?s headquarters in Englewood Cliffs, NJ for approximately $1.4 billion.

Comcast Corporation owns a controlling 51 per cent interest in NBCUniversal, with GE holding a 49 per cent stake. In 2011, Comcast acquired a 51 per cent majority stake in media conglomerate NBCUniversal from GE.

The acquisition accelerates GE?s divestiture ahead of a redemption period that would have begun in July 2014 and solidifies Comcast?s position as a leading media and technology company. The transaction is subject to customary closing conditions and is expected to close by the end of the first quarter of this year.

"This is an exciting day for Comcast as we have agreed to accelerate the purchase of NBCUniversal. 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," said Comcast Corporation Chairman and CEO Brian L. Roberts.

"We believe the terms of the transaction are attractive and have planned for this event by taking a number of financial steps to prepare our balance sheet. We believe we are in a strong and unique position to continue to grow and build value in our combined company."

The transactions will be funded with $11.4 billion of cash on hand, $4 billion of subsidiary senior unsecured notes to be issued to GE, $2 billion of borrowings under Comcast and/or subsidiary bank credit facilities and $725 million of subsidiary preferred stock to be issued to GE.

MUMBAI: US cable major Comcast is selling its 15.8 per cent stake in A&E Television Networks to joint venture partners Disney and Hearst for $3.03 billion in cash.

A&E is majority owned by Disney?s ABC Television Group and Hearst. It runs channels including the History Channel and Lifetime.

In India, AETN has a JV with TV18 and has runs the infotainment channel History.

MUMBAI: Comcast Corp. owned NBCUniversal will sell a substantial portion of its stake in A&E Television Networks to joint venture partners, according to the company?s filing with Securities and Exchange Commission last week.

Comcast expects the deal, which is believed to be worth about $2 billion, to close in the second half of 2012. The company owns almost 15.8 percent in A&E, which it acquired through its acquisition of NBCU from GE Electric.

Earlier, NBCU had brought down its ownership from the initial 25 per cent it held as of late 2009.

A&E Networks, a joint venture of Disney-ABC Television Group, Hearst Corp and Comcast?s NBCU, comprises channels such as A&E Network, Lifetime, History, LMN, BIO, H2, Crime & Investigation Network, Military History, and Lifetime Real Women.

The Walt Disney Company along with Hearst Corporation are the majority shareholders in A&E with 42.1 per cent and 42.2 per cent stake respectively.