Feb 13 - Breakingviews editors discuss the improvisational skills shown by Comcast with its accelerated $16.7 billion deal to buy the rest of NBC Universal.
Come -- Ron Roberts is truly got a rather -- of waiting to take over the rest of NBC divesting of my own. Last night the firm announced it was buying four nonsense take full just on the seventeen billion dollars a year early Jeff. Biggest deal he -- reason -- you all of Comcast cash seems a little bit so over the top -- I think kind of instigated when they originally bought 51% a few years ago it was this very complex multi stage deal they were gonna time. Get the 51%. Then another half of g.'s remaining stake in 2014. And and maybe wait till 2018 to get the rest. I was pretty cleverly structured in a way that was gonna work for Comcast Verizon is just that kind of dealer agreements and bank hasn't come bigs and what Alex right and a predator or an incident -- federal it's kind. Even at the time it seemed to work reasonably well my idea of upside was gonna be shed little sort of one sided. Yeah and unlike say the Citi Morgan Stanley dealer over the wealth management business that sensitive -- huge arguments about what the price to be out and it. I have my understanding is it was muted negotiated but it wasn't far off what this McEnroe I -- Yeah -- cuts of rough closing price of it what they've done is they've accelerated it. The mayor you know there was clear -- and patient 01 side or both up about getting this done it may have been personality clashes whatever may have been but. Actually works out NBC has been a pretty decent trajectory. They're paying nine times -- the business fun times I don't have a dollar which is roughly where Disney trades and it's estimated treats us on out of whack with the industry it's not out of whack and you know and he's been -- -- -- good ride -- -- negative ratings of turnaround at the studio. We've got some good solid films. Ted I know personal favorite is absolutely hello I'm talking -- best oddly it is has been it has been pretty get an -- Olympics and other Olympics which is supposed to be a real. A loss leader basically yeah. It worked out but it didn't so. -- so that very well for the you know they'll think his aides that you could say it's little aggressive and let these. The -- -- is draining them to cast him was on -- books. And he waited NBC might even have generated enough to kind of pay for itself that was kind of one thought they were -- deal. But you know for whatever reason -- going and he's compass has done really well NBC's doing well so that they don't know that there was a little. Of -- also there -- some questions about whether or not because Comcast is waiting to buy that the other 49% that may be. Some of the big innovations and changes might have been put on hold to keep the price tag right out of the picture. But you know ultimately. The question is going to be whether or not now Brian Roberts of Comcast are the right owners for NBC from they've combined. The distribution business cable with media which is sort of contrary everyone else has been. All the cable companies and selling off their media -- and assets. So you know the question is going to be whether or not he could make this sort of conglomerate. Work. -- shareholders -- over the long -- And -- coasts got a nice big gunmen might payback to shelters him so that there is to be -- if they're okay well thanks that Jeff Richard we'll keep an eye on that and we've got it will breaking these tomorrow.