FCC Grants Approval of Comcast-NBCU Transaction

Washington, D.C.—(ENEWSPF)—January 18, 2011. Today, the Federal Communications Commission grants—with conditions and enforceable commitments—approval of the assignment and transfer of control of broadcast, satellite, and other radio licenses from General Electric Company (GE) to Comcast Corporation.  The approval will allow GE and Comcast to create a joint venture involving NBC Universal, Inc. (NBCU) and Comcast.  An Order further explaining the Commission’s reasoning and the conditions and commitments will be issued shortly.

The Commission’s decision is based on a thorough review of the record, which includes extensive data and voluntary commitments from the applicants, as well as thousands of comments from interested parties and public input received at a public forum held in Chicago.  Based on this review, the Commission has determined that granting the application, with certain conditions and contingent upon enforceable commitments, is in the public interest.

As part of the merger, Comcast-NBCU will be required to take affirmative steps to foster competition in the video marketplace.  In addition, Comcast-NBCU will increase local news coverage to viewers; expand children’s programming; enhance the diversity of programming available to Spanish-speaking viewers; offer broadband services to low-income Americans at reduced monthly prices; and provide high-speed broadband to schools, libraries and underserved communities, among other public benefits.

More specifically, the conditions imposed by the Commission address potential harms posed by the combination of Comcast, the nation’s largest cable operator and Internet service provider, and NBCU, which owns and develops some of the most valuable television and film content.

Specific details about the merger can be found at: http://hraunfoss.fcc.gov/edocs_public/attachmatch/DOC-304134A2.pdf

Source: fcc.gov