Comcast-NBC deal moves closer after GE to buy Vivendi's NBC stake for $5.8B


General Electric (GE), the massive industrial conglomerate that owns 80% of NBC Universal, has finally reached a deal in principle to buy the remaining 20% from French media giant Vivendi for $5.8 billion, according to multiple reports. GE's agreement with Vivendi paves the way for the No. 1 U.S. cable company Comcast (CMSCA) to buy a controlling stake in NBC Universal from GE, creating a content and distribution powerhouse and remaking the media and entertainment landscape. GE and Comcast, which have been negotiating the deal for weeks, had been waiting for Vivendi to agree on a price for its stake.

Comcast, which provides cable and broadband service to one-quarter of American households in 39 states, is now one step closer to its long sought-after unification of a storied content factory with a vast distribution network.