Comcast: No plans to sell 4th-place NBC network
NEW YORK (AP) – Comcast executives say they have no plans to sell NBC Universal's broadcast TV business when they take control of the company.
Speaking Monday at the UBS media conference in New York, Comcast CEO Brian Roberts acknowledged NBC Universal's cable channels were the driving force behind Thursday's deal to buy a 51 percent stake from General Electric Co. The channels include CNBC and Bravo.
But he says Comcast's goal will be to improve the fourth-place network's ratings rather than abandon the broadcast business.
Overall, the cable model has emerged stronger during the recession. The slump in advertising sales has hurt the broadcast stations. Cable networks have been able to soften the blow by also drawing fees from cable and satellite providers for carrying the channels.
On Thursday, Comcast announced that it plans to buy a majority stake in NBC Universal for $13.75 billion, giving the nation's largest cable TV operator control of the Peacock network, an array of cable channels and a major movie studio.