Comcast doubles down on TV in $16.7 billion deal for NBCU
LOS ANGELES (AP) — Comcast's $16.7 billion deal to buy the remaining half of NBCUniversal ahead of schedule represents a resounding vote of confidence in the future of TV, even as the growth of Internet video reshapes the entertainment landscape.
The decision was driven largely by Comcast Corp.'s belief that it would end up paying substantially more for General Electric Co.'s remaining 49 percent stake if it had waited until 2018, as had been envisioned in 2011 when the nation's largest cable TV provider acquired majority control of NBCUniversal.
"We didn't have to do this now. We chose to do it," Comcast CEO Brian Roberts said in a Wednesday interview on CNBC. "We're bullish on the businesses we're buying."
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