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WASHINGTON: US corporations General Electric and Comcast have agreed on how to value NBC Universal, clearing a key obstacle to giving Comcast control of GE's television and movie company, The Wall Street Journal reported late Sunday.
Citing people familiar with the matter, the newspaper said both sides believe that NBC Universal should be valued at about 30 billion dollars.
The agreement includes a mechanism that could reduce the cash that Comcast would have to contribute when the deal closes, the report said.
The two companies are now ironing out the final details of a purchase agreement, and an announcement could come as early as the end of this coming week, the paper said.
However, The Journal noted it was possible the negotiations could unravel because French media company Vivendi remains a wild card.
Vivendi, which owns 20 per cent of NBC Universal, has told majority owner GE that it wants to sell its stake this year, the report pointed out.
But it remains unclear whether Vivendi has agreed to the deal being considered by Comcast and GE. A Vivendi spokesman had declined to comment on its plans.
A Comcast-NBC Universal tie-up would merge Comcast's cable networks with NBC Universal's TV networks, movie studio and local TV stations, creating a mammoth media concern controlled by the largest US cable operator, The Journal said.
The deal would also ease GE out of its two-decade involvement in the entertainment industry, the paper noted.
- AFP/so
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