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Comcast buys out Microsoft stake in - report
July 16, 2012 / 6:18 AM / 5 years ago

Comcast buys out Microsoft stake in - report

REUTERS - Comcast Corp (CMCSA.O), the parent company of NBC, has bought out Microsoft Corp’s (MSFT.O) 50 percent stake in 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.

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