House Energy and Commerce Committee Chairman Henry Waxman, D-Calif., released a statement Thursday in which he urged regulatory agencies to look carefully at the Comcast-NBC Universal joint venture agreement to ensure it doesn't stifle competition and diversity in the media sector.
"The proposed Comcast-NBC Universal joint venture agreement has the potential to reshape the media marketplace," Waxman said. "This proposal raises questions regarding diversity, competition, and the future of the production and distribution of video content across broadcasting, cable, online, and mobile platforms."
Waxman called it "imperative" that "the FCC, the Justice Department, and the FTC rigorously assess whether this transaction is in the public interest."
In addition, Waxman said he will "work with Representative Rick Boucher, Chairman of the Subcommittee on Communications, Technology, and the Internet, to schedule hearings on this matter at the earliest practicable date."
Earlier in the day, cable company Comcast (CMCSA) announced a joint-venture with General Electric (GE) to take control of a majority stake in NBC Universal.
The joint-venture is valued at about $37.25 billion. Comcast will own 51% of the joint venture, while General Electric will own 49%.
Comcast will pay General Electric $6.5 billion in cash for its majority ownership in NBC Universal and will also contribute to the joint venture cable channels including E! Entertainment, Versus and the Golf Channel.
Meanwhile, General Electric would contribute the $30 billion valued NBC Universal business, including its cable networks, filmed entertainment, televised entertainment, theme parks, and unconsolidated investments.
Comcast Chairman and Chief Executive Officer Brian Roberts called the deal "a perfect fit for Comcast" that will allow the company to "become a leader in the development and distribution of multiplatform 'anytime, anywhere' media that American consumers are demanding."
Meanwhile, General Electric Chairman and Chief Executive Officer Jeff Immelt said the combination of "Comcast's cable and regional sports networks and digital media properties and NBCU will deliver strong returns for GE shareholders and business partners."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.