Comcast unveils $16.7bn deal to take over NBC Universal

The American media and TV giant Comcast has announced plans to take full ownership of NBC Universal, picking up General Electric's entire 49 per cent stake in the business for $16.7bn.

GE will also sell the 30 Rockefeller Palaza building in Manhattan used by NBC Universal and CNBC's headquarters in New Jersey for an additional $1.4bn. The deal is expected to be wrapped up by the end of the March, Comcast said.