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Supporters holding flags of ruling Congress party leave after attending an election campaign rally by Rahul Gandhi at Hardoi district in Uttar Pradesh January 28, 2012. REUTERS/Adnan Abidi/Files

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Comcast buys out Microsoft stake in MSNBC.com - report

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An NBC sign on the General Electric building in New York in this October 5, 2009 file photo. REUTERS/Mike Segar/Files

An NBC sign on the General Electric building in New York in this October 5, 2009 file photo.

Credit: Reuters/Mike Segar/Files

Mon Jul 16, 2012 1:49pm IST

REUTERS - Comcast Corp (CMCSA.O), the parent company of NBC, has bought out Microsoft Corp's (MSFT.O) 50 percent stake in MSNBC.com for about $300 million to assume full control of the news web site, the New York Times said, citing people with knowledge of the deal.

MSNBC.com was renamed NBCNews.com and users were automatically redirected to the new website.

NBC and Microsoft joined forces in 1996 to create a cable news channel and online news operation that melded broadcasting with then-emerging internet technology.

The news of a possible buyout was first reported in May.

"MSNBC TV will launch a new digital home in 2013, as an extension of the MSNBC TV on-air brand," the editor-in-chief of MSNBC.com wrote in a letter posted on MSNBC website.

Comcast and Microsoft could not be immediately reached for comment by Reuters outside regular U.S. business hours.

(Reporting by Adithya Venkatesan in Bangalore; Editing by Muralikumar Anantharaman)
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