Comcast Seeks U.S. Regulatory Approval to Acquire NBC Universal

Comcast is seeking regulatory approval for its bid to gain control of General Electric's NBC Universal.

The company filed formal notification of the acquisition with the U.S. Justice Department yesterday, said company spokeswoman Sena Fitzmaurice. The filing is the first step in the agency's review of the acquisition, which could take up to a year. Philadelphia-based Comcast, the largest U.S. cable company, wants to merge its channels, worth $7.25 billion, with NBC Universal assets, valued at $30 billion. Comcast will pay GE $6.5 billion in cash and own 51 percent of the new entity. Comcast has told regulators it will increase local and children's programming and offer rivals access to NBC television stations on fair terms.