LOS ANGELES (AP) Comcast, the nation's largest cable TV company, has acquired a majority stake in NBC Universal, the owner of the fourth-ranked NBC broadcast network, a bevy of cable channels and the Universal Pictures movie studio.
The deal closed Friday after a yearlong regulatory review that resulted in conditions meant to prevent the media giant from snuffing out competition from online video services such as Netflix and Hulu. Comcast announced the closing Saturday morning.
Comcast Corp. gets a 51 percent stake of NBC Universal. General Electric Co. retains the rest.
The deal had raised fears that Comcast might abuse its control of the entertainment giant to favor its most valuable customers: the 23 million who rely on it for cable TV signals and the 17 million who pay for Internet connections.
(Copyright 2011 by The Associated Press. All Rights Reserved.)