Comcast said it will buy NBC Universal, and that it expects to spend $50 billion in total to buy and expand the NBCUniversal family of cable and satellite TV companies.
The deal is expected to close by the end of the year.
The acquisition, which Comcast has long said is aimed at boosting the network’s revenues and programming, is expected give the company control of NBC Universal’s core businesses, including TV and movie distribution, cable television, Internet, and other businesses.
NBC Universal shares were up 1.5% at $63.69 on Tuesday in New York.
Comcast said the deal is subject to regulatory approval.
Comcast is also expected to acquire more than 500 million broadband subscribers from Time Warner Cable in a deal valued at about $50.3 billion.
The merger will bring Comcast’s total cable- and satellite-TV market share to about 90%.
NBC Universal is one of the world’s most valuable cable-TV companies, with more than 80% of its subscribers subscribing to the NBC brand.
Comcast has a significant stake in NBCUniversal.
Comcast has long argued that the cable-and-satellite-TV businesses are its main asset and said it has spent more than $1 trillion in acquisitions.
In the last year, it has also begun to build its own broadband business.
NBCUniversal has more than 25,000 employees and operates in more than 40 countries.