GE to buy $345 million in ads from recently sold NBC

General Electric Co. has promised to buy at least $345 million in advertising from NBC Universal over five years after selling a controlling stake in the entertainment company to Comcast Corp., according to a regulatory filing Friday.

GE pledged to buy at least $59 million worth of ads in the new NBC Universal each year for five years after the sale of a 51 percent stake to Comcast, expected to close in about a year. In addition, GE is required to buy $50 million worth of ads in connection with the 2012 Olympic Games, whose rights NBC holds.

Word expected today on Comcast-NBC deal

The deal to give Comcast Corp. control of NBC Universal is expected to be announced this morning.

Two people familiar with the talks told The Associated Press of the plans on condition of anonymity because the agreement has not been made public.

Comcast’s purchase of a 51 percent stake in NBC Universal would transform the nation’s largest cable TV provider into one of the biggest owners of TV and movie programming.

Comcast might buy stake in NBC Universal

Comcast Corp. might spend billions for a stake in NBC Universal, a deal that would transform the nation’s largest cable TV provider into one of the most prominent owners of TV shows, movies and other programming as well.

General Electric Co., which owns 80 percent of NBC Universal, has been in talks with Comcast to unload part of the entertainment unit, people familiar with the negotiations told The Associated Press on Thursday.

They spoke on condition of anonymity because the negotiations are still preliminary.

GE deal with NBC could remake industry

PHILADELPHIA – General Electric Co.’s agreement to buy out the portion of NBC Universal it doesn’t already own paves the way for the sale of a controlling stake to Comcast Corp. in a deal that promises to reshape the entertainment industry.

GE has reached a tentative agreement to buy out French media conglomerate Vivendi SA’s 20 percent stake in NBC Universal, a person with knowledge of the talks told The Associated Press late Monday. The person spoke on condition of anonymity because the negotiations were private and the companies’ agreement has not yet been formalized.

The news lessens the uncertainty surrounding GE’s planned sale of a 51 percent stake in NBC Universal to Comcast, the largest U.S. cable provider. That deal would make Comcast one of the nation’s largest entertainment companies rivaling the heft of its former takeover target, The Walt Disney Co.

Comcast’s plan to take over NBC Universal challenged

Congressional Democrats challenged executives from Comcast Corp. and NBC Universal on Thursday to show that the cable TV operator’s plan to take control of the entertainment company won’t hurt consumers and rivals.

In back-to-back hearings, members of House and Senate subcommittees expressed concern that the transaction could lead to such competitive harms as higher cable TV rates and fewer video programming choices.

Comcast is seeking federal approval to acquire a 51 percent stake in NBC Universal from General Electric Co.