Comcast and Spectrum Capital have signed a 10-year, $35 billion merger that will bring Comcast’s cable and satellite TV service to more than 50 million households and businesses across the country, and will give the cable and wireless companies unprecedented flexibility to create and expand their offerings.
Comcast’s deal with Spectrum Capital was the culmination of a decades-long partnership between the cable giants and the media company.
That partnership was originally conceived in 2001 when Comcast and Spectacor, which is owned by Tribune Media, teamed up to acquire Tribune.
The deal also includes Comcast’s NBCUniversal TV unit, which will receive the rights to NBC’s flagship NBC News and CNBC.
NBCUniversal owns NBCUniversal’s film and television studio, NBC Universal TV and its digital media properties including NBCUniversal.
Comcast and the cable companies also agreed to share the risk of NBCUniversal assets in the merger.
The merger also includes a new 20-year agreement that provides Comcast with a “market-leading” platform to offer customers nationwide broadband internet, wireless Internet, TV streaming and a range of other services and services at competitive prices.
Comcast will also be able to deliver more video, including original programming.
The pact also gives Comcast the right to make additional revenue from NBCUniversal media assets, such as Universal Studios.