Comcast Buying NBC Universal for $13.75 Billion

Comcast said they were ready to take charge of NBC Universal and create the country’s largest entertainment company. On Thursday, they announced they will put up $6.5 billion in cash and $7.25 billion in assets to buy 51% of NBC Universal from General Electric Co. That means the biggest U.S. cable TV provider would control the NBC and Telemundo networks, about 24 cable channels and the Universal movie studio and theme parks!

Consumer groups are buzzing about whether or not one company should have all this power over the production and delivery of entertainment. Comcast contends that consumers should benefit. One of the points was that Universal movies could actually reach cable TV sooner after their theatrical releases. Movie enthusiasts wouldn’t complain.