NEW YORK, Dec. 1 (UPI) -- General Electric and French corporation Vivendi have reached an accord that could pave the way for GE to sell NBC Universal, sources close to the deal said.
The agreement allows GE to buy Vivendi's 20 percent share of NBC for $5.8 billion, which opens the door for GE to sell controlling shares to Comcast in a deal expected to be priced at about $30 billion.
The final price for GE's deal with Comcast has not been settled, The New York Times reported Tuesday.
Analysts have said the deal is likely, however. GE is willing to part with the television and movie company that is losing money, while Comcast is seeking to increase control of programming and production.
The current proposal would give Comcast 51 percent of NBC Universal, not long ago a company generating $400 million in annual profits. GE would retain 49 percent, a position it would then unwind slowly over several years.
Media investor John Malone, chairman of Liberty Media, said Comcast was making a sensible play.
"It does not represent a huge risk Comcast is making with its core business. There is the opportunity to see if they can achieve synergies without betting the farm," he said.
