Court signs off on Comcast takeover of NBCU
Business Law
A federal court has approved the government's conditions placed on Comcast's takeover of NBCUniversal.
In an order Thursday, U.S. District Judge Richard Leon in Washington, D.C., tacked on a two-year oversight period that aims to protect competitors who want to distribute NBCUniversal video content online.
He ordered the government and Comcast to report annually on online video competitors who attempt to arbitrate disputes either through the Federal Communications Commission or an arbitration process set up as part of the takeover.
Comcast took 51 percent control of NBCUniversal in January after paying General Electric Co. $6.2 billion and contributing channels worth $7.25 billion to the new entity.
Among other conditions, the Justice Department and the FCC forced Comcast to relinquish decision-making power related to its minority stake in online video service Hulu.
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