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One Media Giant Bows Out of Bidding for NBCU

Oct 2, 2009  •  Post A Comment

The one media company that a number of knowledgeable observers had long-predicted would be a good fit for NBC Universal has dropped out of the informal bidding for part or all of the company.

Jeff Bewkes, chairman and CEO of TIme Warner, said Friday that "an investment in NBC did not make sense for Time Warner," the Associated Press reports.

Comcast continues to be in the mix for NBCU, reports say. The number one scenario being reported has Comcast owning 51% of the company, with either current NBC majority owner General Electric owning 49% or some other percentage along with the public.

–Allison J. Waldman and Chuck Ross

One Comment

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