GE to buy $345 mln of ads from NBC Universal

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Associated Press

Posted on December 4, 2009 at 7:04 PM

PHILADELPHIA (AP) — General Electric Co. has promised to buy at least $345 million in advertising from NBC Universal over five years after selling a controlling stake in the entertainment company to Comcast Corp.

That's according to a regulatory filing Friday.

GE pledged to buy at least $59 million worth of ads in the new NBC Universal each year for five years after the sale of a 51 percent stake to Comcast closes.

In addition, GE is required to buy $50 million worth of ads in connection with the 2012 Olympic Games, whose rights NBC holds.

The details are in a Securities and Exchange Commission filing that also covers terms of GE's divestiture rights for NBC Universal, tax matters, intellectual property and others.

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