Comcast would contribute around $4 billion to $6 billion in cash, as well as its collection of cable networks to pay for its stake.
Also, GE has negotiated a redemption option that would give it the right to redeem all or part of its stake in the new company in exchange for cash at the 3-1/2-year mark and at a 7-year.
Many of GE's shareholders have urged the conglomerate to offload NBC Universal, whose broadcast and cable networks, movie studio and theme parks are considered an unusual fit among GE's mostly industrial operations.
What must you know to trade GE?
GE is a work in process, says Sterne Agee analyst Nicholas Heymann. Divesting NBCU is a first step.
Now, GE must put more emphasis on power, healthcare and energy and shrink GE Capital to be a supportive unit and not a growth engine.
But they’re not there, yet. They still need to divest appliances and some other divisions. Instead, my top pick in the space is Cooper Industries, Heymann adds.
I’d go with Honeywell, adds Guy Adami.
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Trader disclosure: On Dec. 1st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (SU), (GOOG); Grasso Owns (AAPL), (BA), (BAC), (C), (WMT), (V); Finerrman Owns (GLNG); Finerman's Firm Owns (GLNG), (PLCE), (MSFT), (WMT), (PDE), (RIG), (TGT); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Calls; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY), (USO), (UNG)
For Steve Grasso:
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Stuart Frankel Owns (PDE)
Stuart Frankel Owns (SDS)
Stuart Frankel Owns (YHOO)
Stuart Frankel is Short (QQQQ)
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