Comcast, NBC to Sell Deal to Lawmakers - TheStreet

Comcast, NBC to Sell Deal to Lawmakers

Comcast and NBC Universal executives are scheduled to testify in front of lawmakers Thursday, where they will make a case for their deal.
Author:
Publish date:

NEW YORK (

TheStreet

) --

Comcast

(CMCSA) - Get Report

and NBC Universal executives are scheduled to testify in front of lawmakers Thursday, where they will make a case for their deal.

The Comcast and NBC Universal heads are scheduled to testify at a House committee hearing and a Senate committee hearing.

Committee hearing members will presumably ask whether the deal would be beneficial to consumers in the long-run. They would refer to cable pricing concerns for example.

Brian Roberts, chairman and CEO of Comcast, left, and Jeff Zucker, president and CEO of NBC Universal.

The Comcast and NBC Universal heads in the meantime will presumably argue that a Comcast controlling stake in NBC Universal makes more financial sense than its current situation with

General Electric

(GE) - Get Report

.

According to CreditSights, Comcast said it was committed to using up a $3.6 billion stock buyback program over three years at the time it announced its deal to acquire control of NBC Universal; CreditSights thinks the equity markets would like to see that timetable accelerated.

Comcast stock has slid 1.9% to $15.70 in Thursday morning trading, while GE has tumbled 2.4% to $16.30.

Meanwhile,

Time Warner Cable

(TWC)

has fallen 0.9% to $44.80 and

Cablevision Systems

(CVC)

has tumbled 2.9% to $25.80.

-- Reported by Andrea Tse in New York

RELATED STORIES:

>>And the Winner of the 'Tonight Show' Debacle Is...

>>See our new stock quote page.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.