Comcast to Buy Controlling Interest in NBC Universal

Comcast revealed on Thursday that it is purchasing 51 percent of NBC Universal, leaving GE with 49 percent of the entertainment company. The deal is a joint venture between Comcast and GE and will include NBC Universal along with Comcast's cable networks and regional sports networks.

According to Comcast, "The joint venture will provide consumers the broadest possible access to content, and support high-quality, award-winning content development across all platforms including film, television, and online."

Once the deal is completed, Comcast and GE will jointly control a long list of networks such as SyFy, USA, Bravo, CNBC and MSNBC.

NBC Universal offers many shows for online viewing and for download through services such as Apple's iTunes Store, Hulu and Amazon.com. Comcast hasn't said if it plans to change any of NBC's online offerings once the purchase is completed.

Closing the deal is dependent on approval from several regulatory agencies in the U.S. and other countries.