Key Developments For Comcast Corporation
Comcast Corporation (CMCSA.O) (Nasdaq)
Comcast Corp. Declares Quarterly Dividend
Comcast Corp. announced that its Board of Directors declared a quarterly dividend of $0.0675 a share on the Company's common stock. The quarterly dividend is payable on January 27, 2010, to shareholders of record as of the close of business on January 6, 2010.
Comcast Corp. Close To Gaining Control Of GE's NBC Universal-Reuters
Reuters reported that, according to the New York Times, Comcast Corp. and GE are closer to a deal to give Comcast a 51% stake in NBC Universal and a formal announcement may be made in the coming week. GE, which currently owns 80% of NBC Universal, would keep the other 49% and contribute about $12 billion in debt to the new entity, according to the paper. The paper added that GE is likely to eventually sell its ownership interest in NBC Universal over several years.
Clearwire Corporation's Clearwire Communications, LLC, Comcast Corp. and Sprint Nextel Corporation to Launch 4G in Chicago, Philadelphia and Seattle
Clearwire Corporation's Clearwire Communications, LLC, Comcast Corp. and Sprint Nextel Corporation announced plans to launch their respective 4G mobile Internet services in additional cities in the fourth quarter of 2009. Each of the companies will offer 4G under their own 4G brand. Clearwire, Comcast and Sprint will each launch commercial 4G service in Philadelphia in the next several weeks with official launch events and retail store openings to follow. In November, Clearwire, Comcast and Sprint will begin sales in Chicago. All three providers will begin selling in Seattle/Tacoma area in early December.
GE And Comcast Corp. Keeps Options Open Amid NBC Universal Deal Talk-Reuters
Reuters reported that GE and Comcast Corp. are negotiating a multi-billion dollar sale of NBC Universal. The deal under consideration would combine Comcast's cable network assets and $4-6 billion cash with NBC Universal. Under the envisioned deal, Comcast would take a 51% stake in NBC Universal and GE would own the rest of a company valued at around $30 billion.
GE Is In Talks With Comcast Corp. To Sell Stake In NBC Universal-Reuters
Reuters reported that GE could start to exit a new NBC Universal joint venture with Comcast Corp. as soon as three-and-a-half years after the ink is dried. Comcast is in talks with NBC Universal's parent company GE to buy a controlling stake in the joint venture that has broadcast and cable channels as well as movies and theme parks. Under the proposal, NBC Universal would become a joint venture 51% owned by Comcast and 49% by GE. It would be valued at around $30 billion. Comcast would contribute around $4 billion to $6 billion in cash as well as its collection of cable networks to pay for its stake. GE has negotiated a redemption option, that will give it the right to redeem all or part of its stake in the so-called 'newco' in exchange for cash at the three-and-a-half year mark and at a seven-year mark. But under the deal being negotiated, Comcast would also provide a backstop of around 'mid-single billion' dollars, if there is insufficient cash to buy out GE's stake within the agreed time frame. The News Corporation and Liberty Media also interested in NBC Universal, though neither has approached GE so far.
