Report of Comcast's Interest in NBC Sends Stock Tumbling

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Report of Comcast's Interest in NBC Sends Stock Tumbling

Published: October 01, 2009 @ 1:10 pm
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By Dylan Stableford

Whatever Comcast’s ultimate interest is in NBC Universal, Wall Street doesn’t like it.

Following TheWrap’s report on Wednesday that the cable operator is in talks to buy a controlling stake in the network, Comcast’s stock fell 7.17 percent in Thursday trading to $15.16 per share. It began the day at $16.35.

As BusinessWeek pointed out, the situation is eerily similar to September 2004, when Comcast’s $54 billion bid to buy Disney failed.

Its stock plunged 6 percent the next day.

“Just like back in 2004," BW's Ronald Grover wrote, "investors are horrified.”

Part of the reason could be the crazy legislative hurdles any Comcast-NBCU deal faces.

Tags: Comcast, Media, NBC Universal
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