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, a person close to the situation said Monday.
GE would be allowed to redeem some portion of its 49 percent stake for cash after 3.5 years and again after 7 years, said the person, who was not authorized to speak publicly about the negotiations and spoke on condition of anonymity.
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, the person said. Buying GE’s remaining stake would not be mandatory, however, the person added. More…