Davis Polk advised Comcast Corporation, NBCUniversal Media, LLC and NBCUniversal Enterprise, Inc. in connection with the issuance and sale of $4 billion aggregate principal amount of senior notes and $725 million aggregate liquidation preference of Series A cumulative preferred stock of NBCUniversal Enterprise, Inc. The notes are guaranteed by Comcast and certain of its cable subsidiaries that guarantee Comcast’s publicly traded debt securities. The notes and the preferred stock were issued in connection with Comcast’s acquisition on March 19, 2013, of the 49% common equity interest in NBCUniversal, LLC held by General Electric Company (GE). Sales of the notes and preferred stock were made in separate private placements pursuant to Rule 144A.

The book-running managers for the notes offering were Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. The book-running managers for the preferred stock offering were J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.

Comcast is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. NBCUniversal is one of the world’s leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience.

The Davis Polk corporate team included partner Bruce K. Dallas, associates Jeffrey Gould and Paul Weitzel and law clerk Siyu Jiang. The tax team included partners Avishai Shachar, Neil Barr and Rachel D. Kleinberg, associate Rachel Lerner and law clerk Isaac MacDonald. Counsel Catherine L. Martin provided 1940 Act advice. Cassandra Aguirre was the legal assistant for the offerings. Members of the Davis Polk team are based in the Menlo Park and New York offices.



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