Comcast takes full control of MSNBC.com, buys Microsoft’s stake for $300 mn
16 Jul 2012
Comcast Corp, the largest US cable operator and the parent company of NBC, has acquired its joint venture partner Microsoft Corp's 50-per cent stake in MSNBC.com for a reported price of around $300 million.
With assuming full control of MSNBC.com after 16 years of partnership with Microsoft, Comcast has renamed the popular news website to NBCNews.com.
Readers, who logged into MSNBC.com late yesterday night, were automatically redirected to NBCNews.com.
The site, which was founded in 1996 as a 50-50 venture between NBCUniversal and software giant Microsoft, relied on NBC News' exclusive news and video content and Microsoft's technological expertise.
NBCNews.com will move it's headquarter from Microsoft's corporate base in Redmond, Washington, to NBC News' headquarter in New York and become part of NBC News Digital, a new division led by Vivian Schiller, who joined NBC News last year as chief digital officer.
Terms of the cash deal, which was announced yesterday, were not disclosed, but the several media reports estimated the deal was worth around $300 million, including the JV's past profits.
