Comcast's NBC Uni acquisition gets support
Schwarzenegger and company want deal finalized quicklyNEW YORK -- The governors of New York, California and Pennsylvania have expressed their support for the planned acquisition of a 51% stake in NBC Universal by Comcast Corp. and urged the FCC to approve the deal swiftly and without "extraneous" conditions.
In their letter to the FCC, David Paterson (N.Y.), Arnold Schwarzenegger (Calif.) and Edward Rendell (Pa.) highlighted that the entertainment and cable giants have their most substantial business presence in their states and that Comcast has committed to growing NBC Uni's business instead of focusing on job cuts.
"The interests of the nation and our states will be well served if the relevant agencies move expeditiously and with a clear focus on the merits of the deal, and if they avoid delaying forward progress or imposing extraneous conditions," the governors' letter said.
In expressing their "strong" support for the planned transaction, the governors also said that the deal will "let two great American companies, Comcast and GE, focus on their respective strengths," which will make NBC Uni "a stronger company."
Overall, "the significant benefits associated with the creation of this new joint venture far outweigh any potential harms," the governors concluded ion calling for "timely" government approval of the proposed deal.