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$CMCSA to Buy $GE’s Remaining Stake in NBC Universal

WASHINGTON (MarketWatch) — General Electric GE +3.81% said it’s selling the remaining 49% stake it holds in NBC Universal to Comcast CMCSA +7.90% CMCSK +0.89% for $16.7 billion, and also is selling related real estate for $1.4 billion. GE said it’s increased GE’s share repurchase authority to $35 billion, with approximately $23 billion of authorization remaining as of today. GE plans to accelerate its share repurchase program to approximately $10 billion in 2013. GE expects the pre-tax gain from the sale of its remaining NBC Universal interest of approximately $1 billion to be offset by restructuring in 2013. “Our decision to acquire GE’s ownership is driven by our sense of optimism for the future prospects of NBCUniversal and our desire to capture future value that we hope to create for our shareholders,” said Brian L. Roberts, chairman and CEO of Comcast, in a statement. ”

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