Report: Zucker to Head Comcast/GE Venture

NEW YORK: NBC Universal chief Jeff Zucker is expected to be named the head of the proposed Comcast Corporation and GE joint venture, according to reports, a position that would see him adding the Comcast cable networks to his remit.

GE and Comcast are nearing a deal for a joint venture—with Comcast holding a 51-percent stake—that would cover the NBCU assets as well as the Comcast cable channels, which include E! and Style. Comcast is looking to contribute between $4 billion and $6 billion, as well as its channels portfolio. The deal is still contingent on Vivendi, which owns 20 percent of NBCU. The Paris-based company is said to be holding out for a better price in its ongoing talks with GE. Vivendi has between November 15 and December 10 to exercise its option to sell the stake.