Comcast-NBC Universal Joint Venture Deal
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Case Code: BSTR364 Case Length: 19 Pages Period: 2004-09 Pub Date: 2010 Teaching Note: Not Available |
Price: Rs.300 Organization: Comcast Corporation, NBC Universal, GE Industry: Media and Entertainment Countries: US Themes: Joint Venture, Merger and Acquisition |
Abstract Case Intro 1 Case Intro 2 Excerpts
"We put none of those types of traditional synergies into our numbers to make this a good transaction. However, I do think it's a great business that we're buying, and I do think there are many strategic things we can do together, and we'll just have to prove that as we go."
- Brian Roberts, Chief Executive Officer (CEO), Comcast Corporation, in December 2009.
"Consumers of all of our products - on screens large and small - will have the benefit of enhanced content and experiences, delivered to them in new and better ways as a result of this transaction."
- Jeff Zucker, President and CEO, NBC Universal, in December 2009.
"This merger's potential to foreclose competition and stifle innovation is significant and real."
- Mark Cooper, Director of Research, Consumer Federation of America, in December 2009.
Introduction
On December 03, 2009, Comcast Corporation (Comcast), the largest cable TV and Internet service provider in the US, and General Electric (GE), the majority partner in NBC Universal (NBCU), one of the largest entertainment companies in the world, announced that they were setting up a joint venture pending the necessary approvals from the antitrust division of the US Department of Justice (DOJ)5 and Federal Communications Commission (FCC)6. After completion of the deal, a new company, New NBC Universal (New NBCU) would be formed which would have Comcast's programming assets and the assets of NBCU including its cable networks, regional sports networks, certain digital properties, and certain unconsolidated investments.
With the completion of the deal, a leading media and entertainment company would be created which would be 51 percent owned by Comcast and 49 percent owned by GE...
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