Comcast's long-running effort to buy NBC got the go-ahead today with the announcement that the cable TV company, which owns IndyCar Series TV partner Versus, had concluded a joint venture with General Electric worth a combined $37.25 billion. The arrangement will give Comcast eventual control of NBC Universal.
CNN.com reports that Comcast will pay GE $6.5 billion in cash for the conglomerate's media unit and will contribute programming and other businesses valued at $7.25 billion. The sale values NBC Universal at $30 billion. Comcast will take a controlling 51 percent stake in the joint venture.
Of particular interest to IndyCar Series fans, the deal figures to pave the way for cross-promotion of Versus programming on other NBC networks, theoretically boosting the exposure of ICS races on Versus. However, although the deal has been approved by the companies' boards, it still is subject to regulatory approval, which the New York Times reports could take 12 to 18 months.