NEW YORK (
stock Monday after its executives announced this morning that they had no plans to sell NBC Universal's broadcast TV business.
Speaking at a UBS conference, Comcast CEO Brian Roberts said that one of the main drivers behind Comcast's decision to buy NBC Universal has been its strong cable channels, which include CNBC and Bravo.
Roberts says that Comcast will aim to bump the network's rating up from fourth place -- and abandoning its broadcast business is not part of that plan.
On Thursday, Comcast agreed to buy a 51% stake in NBCU from General Electric. CreditSights said that Comcast is on the hook to finance repurchases of GE's remaining stake in their joint venture in two steps over seven years.
Broadcast stations have watched their advertising sales plummet during the recession, but cable networks have coped by imposing fees from cable and satellite providers for carrying the channels.
Comcast stock leaped 7.1% to $17.27, ten minutes before the closing bell. Related company
is largely unchanged at $32.70 and the
has added 1% at $21.40. Finally,
itself has fallen 0.6% to $16.10.
-- Reported by Andrea Tse in New York
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