General Electric reported that NBC Universal’s profits fell 15 per cent in the third quarter to $625 million. Revenues for NBCU were $4.1 billion, on a year ago.
GE is in the process of selling a controlling interest in NBCU to Comcast. On cable GE noted that strong original programming propelled USA Network to be the top cable network for the 17th straight quarter and that Bravo had its best quarter in its history. CNBC’s profits were up 5 per cent.
In the quarter, GE completed the purchase of 7.7 per cent of NBCU shares from Vivendi for $2 billion and completed a $5.1 billion debt