Barron’s Says Comcast (CMCSA) A Bargain Buy, Pending Its Acquisition Of NBC Universal
Comcast Corporation (NASDAQ: CMCSA) announced that it is acquiring NBC Universal from General Electric Company (NYSE: GE).
Barron’s noted that a deal has been engineered to enhance Comcast's investment appeal sharply. The deal creates a joint venture that will be 51% owned by Comcast and will be buying the remaining 49% stake in NBCU over time, primarily with cash generated by NBCU, not its core cable business. Comcast increased its quarterly dividend payout by 40% last week and has agreed to complete a planned $3.6 billion stock repurchase in three years. The stock is trading at $16.13.
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