Senior executives of Comcast Corporation and NBC Universal on Thursday defended the merger of the two companies saying that the marriage of the titans will not raise any anti trust or competitive concerns.
The merger would result in "a more creative and innovative company that will meet consumer demands," said Comcast chief executive Brian Roberts.
"Before this joint venture was proposed I was concerned about the future of broadcasting. It's been under a certain amount of duress," said NBC president Jeff Zucker.
Comcast's commitment to invest more in NBC's broadcast properties "give me greater comfort in thinking about the future of broadcasting," he added.
On 3 December, GE has agreed to acquire Vivendi SA's 20-per cent stake in NBC Universal (NBCU) for $5.8 billion, clearing the path for the company to sell control of the entertainment giant to Comcast Corporation (See: GE in deal to sell NBC to Comcast).
GE owns 80 per cent stake in NBC while Vivendi holds the remaining 20 per cent.