GE and Comcast Merge to Control NBC Universal

What was made public earlier this week has now been made official: General Electric is shifting control of NBC Universal to Comcast in a $30 billion agreement. Under the terms of the agreement, the two companies will form a joint venture, where Comcast will end up controlling 51% percent of the newly formed company while GE will own 49% percent.

The joint venture is valued at $30 billion dollars, with GE contributing its cable networks, filmed entertainment, televised entertainment, theme parks, and unconsolidated investments. Comcast will contribute its cable networks including E!, Versus and the Golf Channel, ten regional sports networks, and certain digital media properties, collectively valued at $7.25 billion. Additionally, Comcast will pay GE approximately $6.5 billion in cash.