(3 October 2009 7:15 pm)

MUMBAI: Denying that it was mulling a takeover of NBC Universal, Comcast has agreed that it was discussing the formation of a new joint venture company with the General Electric owner.

As part of the deal, Comcast would manage the new entity and merge its own cable assets into the venture.

The new company Comcast would have a 51 per cent stake in the new venture in NBC Universal while that of General Electric would be 49 per cent. Comcast's only cash outlay would be in the range of $4 billion to $6 billion range, it is understood.

The deal is dependent on Vivendi giving up its 20 per cent stake in NBC Universal that has a majority stake. General Electric may also contribute $12 billion in debt to the spun-off entity.

Comcast's assets include: E!, Style, Golf Channel and a group of regional sports networks.