Comcast is buying NBCUniversal in a $13 billion deal, making it the largest cable operator and the fourth-largest media company in the United States.
The Comcast-NBCUniversal deal was announced Thursday in New York.
The deal includes Comcast’s NBCUniversal unit and NBC Studios, the studio that produces shows including “The Office” and “The Voice.”
The Comcast and NBCUniversal companies will merge their respective businesses, Comcast announced.
The new company will also include Comcast’s TV and broadband businesses.
Comcast will retain ownership of NBC Universal, and Comcast Media Ventures, the holding company for NBC Universal’s TV businesses, will retain a stake in NBC Universal.
Comcast said it will continue to operate NBCUniversal.
“We’re thrilled to partner with NBCUniversal on our shared mission of bringing people together, delivering news and entertainment and connecting people around the world,” said John Malone, chairman and CEO of Comcast.
Comcast is the nation’s second-largest cable operator after Comcast.
NBCUniversal, which was spun off in 2017 from NBCUniversal Entertainment, will operate under a new name and logo, but the company will continue its television business.
Comcast already owns and operates NBC, NBC News, MSNBC and CNN.
The combined company will create a new TV company, NBCU, that will focus on entertainment, news, news programming, content and digital distribution.
Comcast and Universal will have a majority ownership stake in the new company, Comcast said.
Comcast Chairman and CEO Brian Roberts said the combined company’s core businesses will focus primarily on programming and digital content, but will also have an entertainment portfolio including “Sunday Night Football,” “The Walking Dead,” “Supernatural,” “American Idol” and other live programming.
The two companies also will share technology.
The merged company will be led by CEO Kevin O’Connor, who will also be CEO of NBCU.
Comcast CEO Brian Wheeler and NBC Universal CEO Michael Lombardo will serve on the board of the new NBCU as executive officers, and the combined companies will continue as members of the U.S. Broadcasting Board of Governors, which regulates broadcast television.
Comcast also will become a minority partner of NBCUniversal’s parent company.
“Today is a great day for all of us at Comcast and for NBCUniversal,” Wheeler said in a statement.
“The combined company is poised to provide more value for our shareholders, accelerate our growth and provide a new direction for our business and its platforms.
We look forward to continuing our close relationship with NBC and its network partners, our shareholders and the American people.”
The combined companies, along with NBC, will be in the business of providing entertainment and news content for television, broadband and mobile.
The company will combine Comcast’s Television division with NBC Studios and produce programming across its media businesses.
The merger comes as Comcast is looking to expand its media services.
Comcast owns NBCUniversal and the majority of NBC’s parent companies, including NBCUniversal parent Time Warner, NBCUniversal TV and NBC Sports.
Comcast recently announced a $10 billion acquisition of Time Warner.
Comcast announced in May that it had bought NBCUniversal last year for $8.4 billion.