Comcast Denies Deal to Buy NBC Universal

PHILADELPHIA (TheStreet) -- Comcast(CMCSA Quote) denied it has a deal to buy NBC Universal, the media unit of General Electric(GE Quote).

A spokesman for the nation's biggest cable company told the New York Times that "the report that Comcast has a deal to purchase NBC Universal is inaccurate."

The news of a tie-up was first reported by The Wrap, a blog run by a former Times reporter. It said bankers for the company met Tuesday to work out details for a deal.

Last week, Bloomberg said French media company Vivendi could meet next month to sell its 20% stake in NBC Universal, which perhaps could lead to a possible spinoff of the operation.

Bloomberg reports Thursday that Comcast is talking to GE about buying a stake in NBC Universal. The report cited three people with knowledge of the discussions.

Negotiations for Comcast to buy about a 50% stake in NBC Universal have been ongoing and depend on whether Vivendi decides to unload its 20% stake, Bloomberg says. No agreement is certain, the people said.

NBC's total enterprise value may be $21 billion to $23 billion, including an estimated $5.1 billion in debt, according to Sanford C. Bernstein, Bloomberg reported last week. The Wrap estimates NBC Universal's value at about $35 billion.

-- Reported by Joseph Woelfel in New York .

Follow TheStreet.com on Twitter and become a fan on Facebook.