Report: NBCU To Make Zucker Head Of New Comcast Venture

Reuters is reporting that according to sources Comcast Corp and General Electric Co have agreed to make current NBC Universal CEO Jeff Zucker the head of their new proposed joint venture, though the “structure of a new board is still being negotiated” and Peter Chernin’s role is still up in the air. From the report:

The two sides have been in talks to reach a deal that would give Comcast a 51 percent stake in the NBC Universal venture, which would also house the cable networks now belonging to Comcast. They recently agreed to value NBC Universal at about $30 billion, sources previously told Reuters.

Under the terms being discussed, Zucker will lead the new entity, with no clauses for him to leave after a specific period, the sources said on Tuesday. They spoke on condition of anonymity because the details have not been made public.

As part of the proposal, NBC Universal would become a joint venture, 51 percent owned by Comcast and 49 percent by GE. Comcast would contribute around $4 billion to $6 billion in cash, as well as its collection of cable networks to pay for its stake.

There has been a lot of speculation about who will head the new company, especially since Peter Chernin — the former president of News Corp (NWSA.O) — has been advising Comcast.

The sources said Zucker would be chief executive, but no decisions had been made on what role Chernin might play, if any.

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