Comcast buys out Microsoft stake in

By : |July 15, 2012 0

NEW YORK, USA: Comcast Corp, the parent company of NBC, has bought out Microsoft Corp’s 50 per cent 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.

[image_library_tag 550/10550, align=”left” width=”150″ height=”31″ title=”Microsoft” alt=”Microsoft” border=”0″ vspace=”7″ hspace=”7″ complete=”complete” ,default] 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.

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