NBC Universal Revenues Up in Q4

Revenues went up by 12 percent in the fourth quarter for NBC Universal when compared to the same period a year ago. The entertainment division of General Electric had revenues of $4.8 billion for the quarter ending Dec. 31 compared to the $4.3 billion for the same quarter in 2009. For the full fiscal year, NBC Universal reported revenue of $16.1 billion, a nine percent increase over the $15.4 billion for the 2009 fiscal year. The quarterly results were released just days after the Federal Communications Commission gave approval for General Electric to sell its majority share in NBC Universal to cable company Comcast. The deal, which has been more than a year in the making, results in a $30 billion business spanning broadcast, cable networks, movie studios, and the Internet. GE had expected the deal to close in the fourth quarter and the delay will result in a higher tax rate in the first quarter and contribute to a significantly higher tax rate for the full fiscal year, the company said.