The Canadian PressJuly 31, 2013 08:02
NEW YORK, N.Y. - The decision by Comcast Corp., the country's largest cable company, to buy General Electric out of the NBCUniversal business looks like a smart one, as the media conglomerate posted strong results for the second quarter.
It was the first quarter in which Philadelphia-based Comcast owned all of NBCUniversal, the parent of the NBC broadcast network and Universal Studios. Comcast bought control of NBCUniversal in 2011, with an agreement to buy the remaining GE stake over time. It sped up the schedule this year, buying out GE on March 19 for $16.7 billion.