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CNBC Anchor and Reporter
General Electric will have the right to put part of its 49 percent stake in NBC Universal to Comcast after the joint venture has been in existence for three and half years, and has another "put" at the seven-year mark, according to people close to the deal.
The two puts are part of the deal in which NBC Universal would be valued at $30 billion and spun off into a new company, merging with Comcast's [CMCSA
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] content assets and cash. Many of the terms for that deal have already been negotiated, according to people close to the situation.
GE [GE
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] would own 49 percent of the resulting entity, which would also have $9 billion in debt. But after three and half years, GE would be able to put part of that ownership stake to Comcast.
A cap of an undisclosed dollar amount has already been determined between the two parties for the first put, and the remainder of GE's stake could be put to Comcast after seven years.
Also on CNBC.com:
Comcast shareholders are concerned that while the company is laying out $6 billion or less in cash to gain control of NBC Universal, it will over time be forced to spend a lot more than that to buy the remainder of it.
NBC Universal has also gained attention from Liberty Media [LCAPA
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] and News Corp [NWS
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], though GE is focused on the Comcast deal or an initial public offering of the asset.
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