Comcast and NBCUniversal are the latest big media conglomerates to acquire their own media companies.
The companies announced their acquisition of NBCUniversal and Comcast, the parent company of both cable and broadband networks, on Wednesday, with the combined company valued at $4.4 billion.
The combined company will be the second-largest media company in the world.
It will also be the largest media acquisition in history, according to CNBC, with Comcast acquiring a media company that, at $2.9 billion, is larger than the combined combined assets of the likes of Apple, Disney, Microsoft and Warner Bros. The acquisition will give Comcast a controlling stake in more than a third of U.S. households, according the company.
The acquisition of Comcast and the other media companies follows a decade-long trend of consolidation in media companies, which have increasingly consolidated into media-focused conglomerates.
The combined companies will also include Comcast’s NBCUniversal TV and Internet properties.
Comcast’s NBCU will be able to offer subscribers access to cable TV channels, online video services and news.
Comcast will be allowed to offer streaming services like Hulu and Netflix, as well as digital-only services like YouTube and Spotify.
In a statement, Comcast said it would not only retain its content properties, but will also continue to operate its own online video platform, Hulu.
The new company will offer online video and online video content to Comcast customers, the company said.
As part of the deal, Comcast and Comcast customers will get the right to access NBCU’s online video service, and Comcast will also provide online video access to Comcast subscribers.
“As Comcast continues to invest in its media properties, we look forward to creating a company that’s both a leading provider of online video, and a leading innovator in the digital media industry,” said Comcast CEO Brian Roberts.
This is a developing story and will be updated as more information becomes available.
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