Web Sify
Follow us on

Comcast buys out Microsoft stake in MSNBC.com - report

Source : REUTERS
Last Updated: Mon, Jul 16, 2012 08:30 hrs

REUTERS - Comcast Corp , the parent company of NBC, has bought out Microsoft Corp's 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)

More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance