Comcast denies it has deal to buy NBC Universal
Comcast Corp, the largest US cable service provider, denied a Web report that it had struck a deal to buy media conglomerate NBC Universal for $35 billion.
Comcast Corp, the largest US cable service provider, denied a Web report on Wednesday that it had struck a deal to buy media conglomerate NBC Universal for $35 billion.
But Comcast, which normally does not comment on takeover rumours, stopped short of quashing widespread speculation that it was interested in NBC Universal, which is owned by General Electric and Vivendi SA.
A spokesman for Vivendi had no comment on the report and said the French media group had an annual window from Mid-November to early-December to exercise a put option on its stake in NBC Universal.
Vivendi shares were indicated up 1.7 per cent in Paris.
When asked if it was looking at NBC Universal, a Comcast spokesperson declined comment.
The Wrap.com reported late on Wednesday that Comcast is in talks to buy NBC Universal from GE, and that bankers for both sides met in New York on Tuesday to hammer out deal points.
The report said two individuals informed about the meeting said a deal had been "completed" at a purchase price of $35 billion.
Bloomberg, citing three people with knowledge of the discussions, reported late on Wednesday that Comcast is in talks with GE to buy about a 50 percent stake in NBC Universal.
The deal would partly depend on Vivendi SA making a decision to sell its 20 percent holding in NBC Universal, one of the sources told the news agency.
"While we do not normally comment on M&A rumours, the report that Comcast has a deal to purchase NBC Universal is inaccurate," Comcast said in a statement.
A spokesman for GE could not be reached for comment. NBC Universal declined to comment.
GE, which owns 80 per cent of NBC Universal, is said to be pondering its options for the fourth-place TV network and ailing movie studio as partner Vivendi draws closer to a decision on whether to unload its 20 per cent stake.
