Comcast takes control of NBC Universal in $16.7bn buy-out The buy-out of General Electric's remaining 49pc stake gives it one of the industry's largest and most profitable stable of cable networks, as well as the NBC broadcast network with its recognisable peacock logo. Tuesday's deal, combining properties such as USA Network, Universal Studios and more than 22 million cable subscribers, completes a 50-year transformation for Comcast, founded in 1963 by chief executive Brian Roberts' father, Ralph. Comcast, which bought 51pc of NBC Universal in 2011, now becomes a $39bn business marrying cable distribution with cable content. While Comcast held the title of the nation's leading cable operator, its status as a content player was always second tier, with middling networks such as E!, G4 and Golf forming the basis of its channel portfolio. In addition to the main deal, which pushed up Comcast shares about 7pc in after hours trading, Comcast will also gain full control of the floors NBC uses at 30 Rockefeller Plaza in New York City and CNBC's headquarters in Englewood Cliffs, New Jersey, for about $1.4bn. Comcast will fund the deal with $11.4bn of cash, $4bn in senior unsecured notes to be issued to GE, $2bn in credit facility borrowings and the issuance of $725m in subsidiary preferred stock to GE. Comcast turned its attention to NBC after a failed $54bn hostile takeover attempt of Walt Disney in 2004 that ultimately led to the resignation of Michael Eisner, the Disney chief executive.