Davis Polk is advising Comcast Corporation on its $16.7 billion acquisition of General Electric Company’s 49% common equity stake in the NBCUniversal Media, LLC joint venture. NBCUniversal will also purchase from GE the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC’s headquarters in Englewood Cliffs, New Jersey for approximately $1.4 billion. The transaction is subject to customary closing conditions and is expected to close by the end of the first quarter of this year.
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 includes partners David L. Caplan and Marc O. Williams and associates James E. Elworth, Kristen L. Haase, Nina S. Assouline and Lisa Bozman. The tax team includes partners Avishai Shachar and Neil Barr, associate Patrick E. Sigmon and law clerk Isaac MacDonald. The real estate team includes partner Thomas Patrick Dore Jr. and law clerk Nicholas D. DiChiara. Partner Bruce K. Dallas and associates Jeffrey Gould and Paul Weitzel are providing capital markets advice. Partner Jason Kyrwood and associates Lauren N. Gillespie and Adam J. Ross are providing credit advice. Members of the Davis Polk team are based in the New York and Menlo Park offices.
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