- Credit Markets on Edge About When Fed Will Raise Rates
- Bove: Expect Goldman To Increase Dividend Meaningfully
- Bullish Sign for Gold: Central Banks Are Big Buyers
- Victoria's Secret Hopes to Rekindle Desire for Lingerie
- High Roller Sues Harrah's for Lost Millions
- Wall Street Jobs Slow to Return Despite Record Profits
- Big Shareholders Ask Goldman to Cut Bonuses: Report
- Buying an Expensive House? Government Can Help
- Review: What It's Like to Drive the New Chevy Volt
- How Stock Investors Can Play Holiday Travel
- Time Lapse World Series Is A Great Play
- Hirschhorn: Greed...or Fear
- My Top 10 Tech Toys for the Holidays
- iPhone a Better Gaming Platform Than Android?
- May Day For Dendreon
- 100% Mortgage Financing From USDA
- Holiday Tipping: Who And How Much
- Deep Discounts Should Make It a Very Tech-y Holiday
MOST SHARED
- Nielsen Ratings Coming to Video Games
- Oil Next Week
- The Week Ahead
- Time Lapse World Series Is A Great Play
- Hershey Mulls $17 Billion Bid for Cadbury: Source
- Hot Topics at TEDMED
- Realty Check: USDA Home Loans
- Bove: Expect Goldman To Increase Dividend Meaningfully
- 'New Moon' Midnight Showings Earn Record $26.3 Million
Text Size 
CNBC Anchor and Reporter
General Electric and Vivendi are making slow progress in talks for the French media company to shed its 20 percent stake in NBC Universal, but a deal is still expected in the next 10 days, sources told CNBC.
 |
Bethany L King NBC |
GE [GE
Loading...
()
] already has an agreement with cable giant Comcast [CMCSA
Loading...
()
] to turn NBC Universal into a joint venture, with Comcast holding 51 percent and GE the remaining 49 percent. GE currently owns 80 percent of NBC Universal, parent of CNBC and CNBC.com. Both companies have agreed to value the deal at $30 billion.
But for the transaction to be completed, Vivendi needs to shed its 20 percent stake. Vivendi is said to be eager to dispose of its stake but is still negotiating the valuation with GE.
GE and Comcast were expected to announce the overall deal next week, but that is now likely to happen in 10 days.
Earlier this week, Comcast and GE agreed to make NBC Universal CEO Jeff Zucker the head of their proposed joint venture, but the structure of a new board is still being negotiated.
Under the terms being discussed, Zucker will lead the new entity, with no clauses for him to leave after a specific period.
Comcast would contribute around $4 billion to $6 billion in cash, as well as its collection of cable networks to pay for its stake.
There had been a lot of speculation about who will head the new company, especially since Peter Chernin — the former president of News Corp [NWS
Loading...
()
] — has been advising Comcast.
The sources said Zucker would be chief executive, but no decisions had been made on what role Chernin might play, if any.
—Reuters contributed to this report.
- Technology can make or break a fortune in the world of alternative energy.
- Many people are facing the holidays with substantially smaller incomes. Here’s how some are adapting.
- Jim Cramer is a proponent of stocks that pay healthy dividends, and here are his top five dividend plays.
- From salt, to lip balm to envelopes, it turns out that bacon flavoring can sell almost anything.
- The homebuyer's tax credit jacked sales for a while, but 2010 is looking weak. Now what?
- CNBC’s technology reporter Jim Goldman guides you through the best gadgets to buy this holiday season.
Data is a real-time snapshot *Data is delayed at least 15 minutes