GE Could Unwind Stake in NBC Universal

A proposed deal to acquire media giant NBC Universal would give current owner General Electric Co. the ability to unwind its stake over several years, and could see Comcast Corp. commit billions more to the joint venture. GE would be allowed to redeem some portion of its 49 percent stake for cash after 3.5 years and again after 7 years. The cash would be generated by NBC Universal's operations, although Comcast has agreed it could provide up to "mid-single billions" of dollars to backstop the purchase of GE's remaining stake. Buying GE's remaining stake would not be mandatory, however. Any money Comcast ends up putting toward buying out GE's stake would be on top of the estimated $6 billion in cash plus its cable network assets that it is already committing to the companies' venture. The total value of the proposed joint venture between Comcast and GE is estimated around $30 billion, and it would carry about $9 billion in debt.