NBC Universal, Comcast merger gets EU nod

BRUSSELS — The Europen Commission on Wednesday gave its green light to the takeover of US entertainment titan NBC Universal by cable television operator Comcast.In a statement, the commission -- which enforces EU competition policy -- said that, with Comcast having no cable assets in Europe, the two companies' combined market share would "remain very limited" in the region."After examining the operation, the commission concluded that the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it," it added.Its decision counters that of the US Federal Communications Commission, which on June 24 effectively put the merger on hold by asking for more information.The US Justice Department is also reviewing the deal which would see General Electric sell 51 percent of its stake in NBC Universal to Comcast, amid concern that the merger would give too much power to one cable operator.NBC's cable and broadcast holdings include NBC -- the oldest of the four major US broadcast networks along with ABC, CBS and Fox -- financial news channel CNBC, the all-new channel MSNBC, The Weather Channel, Bravo and Spanish-language broadcast network Telemundo.Comcast, one of the biggest cable and Internet service providers in the United States, runs several television channels including the Style Network, the Golf Channel and E! Entertainment Television. Copyright © 2010 AFP. All rights reserved. More »

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