Comcast Corp, the parent company of NBC, has bought out Microsoft Corp’s 50 percent stake in MSNBC.com for a reported $300 million to assume full control of the news website. The deal ends 16 years of a 50-50 joint venture between Microsoft and NBCUniversal, which is now majority-owned by Comcast Corp, NBC said. “Today we’re taking on a new name – NBCNews.com. While our name is changing, our commitment is not,” Jennifer Sizemore, editor-in-chief of NBCNews.com, said in a letter posted on the company’s website. “The ties are deep, and untangling them will take at least two years,” the network said. The New York Times reported on Sunday the transaction was valued at $300 million, a part of which comes from the joint venture’s past profits, citing people with knowledge of the deal. Read the full story at Reuters.
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.