Kukla's Korner Hockey
by Paul on 01/18/11 at 07:12 PM ET
This was announced earlier today but waited for a story that did not include a lot of legalize…
from Joe Flint of the LA Times,
The Federal Communications Commission and the Justice Department have approved Comcast Corp.‘s deal to take a majority stake in General Electric Co.‘s NBC Universal, the government actions needed to create a new media and entertainment behemoth that spans television, a Hollywood movie studio and the Internet.
Announced 13 months ago, the deal puts under one roof the nation’s largest cable and broadband operator with one of the country’s most storied broadcasters, whose assets include networks NBC and Telemundo as well as Universal Pictures and cable channels USA, Syfy and Bravo.
The FCC didn’t give carte blanche to Comcast Corp, however. Its approval was contingent upon Comcast Corp. agreeing to conditions that the government hopes will reign in the media giant. Comcast also made commitments to boost NBC Universal’s news and public affairs programming.
The conditions, most of which run seven years, include requirements that Comcast make its content available to rival cable and satellite distributors as well as online distributors.
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