Changing of the Guard at 30 Rockefeller Center

Since 1986, General Electric has had a stake in media conglomerate NBC Universal.  On the skirts of selling its majority stake to Comcast in 2009, today General Electric announced its intention to sell its remaining stake (49%) to Comcast for $16.7 billion.  It’s a very sad day for television enthusiasts like myself, as this is the beginning of a new NBC Universal.

The National Broadcasting Company, first a radio network before experimenting with television, was founded by GE, Westinghouse Electric Company, and Radio Corporation of America in 1926.  For over 80 years, NBC Universal has been tied to its founding companies.  RCA owned NBC Universal until 1986, when GE acquired RCA and NBC Universal.

The news of GE selling its remaining minority stake in NBC Universal is significant because for the first time in its history, NBC Universal will not be owned in some shape or form by GE or RCA.  It is sad to witness, as the number of media companies decreases.  As companies try to save money, news sources are now controlled by fewer and fewer people or companies.  Small newspapers and television stations who at one time were locally owned are being acquired by national media conglomerates who care more about quantity rather than quality.

I hope Comcast doesn’t forget the tradition and history that NBC Universal has.  It deserves to be treated better than just another channel on the television lineup.

 

Sources:

http://abcnews.go.com/Technology/wireStory/key-dates-history-national-broadcasting-18481727http://www.reuters.com/article/2013/02/13/us-ge-nbc-idUSBRE91B1IM20130213

http://www.reuters.com/article/2013/02/13/us-ge-nbc-idUSBRE91B1IM20130213