The long negotiation process has finally been completed and the $30 billion merger deal of Comcast Corp and NBC Universal is official. Gaining the approval of federal antitrust regulators took 13 months.
Last month, the Federal Communications Commission (FCC) and the Justice Department approved the merger with a long list of conditions. According to Reuters, on January 28, Comcast officially acquired a 51 percent stake in NBC Universal from General Electric Co.
Antitrust regulators were concerned that the combination of Comcast, the largest distributor of video and television content in the U.S., and NBCU, a creator of film and television content, would hamper competition overall and particularly in the evolving online entertainment industry.
Comcast had to agree to a number of conditions to receive approval for the deal. The company agreed, for one, to give up its managing role of Hulu through its minority stake in the online entertainment distribution company.
Comcast Corp is interested in the expansion of media onto the Internet and the opportunities different viewing devices offer, such as tablets, smartphones and computers.
According to Reuters, Comcast believes the joining of the entertainment-distribution company and entertainment-creation company will be good for both companies’ customers.
Comcast completes NBC Universal merger (Reuters)