Comcast Corp, responsible for NBC, announced that it has officially purchased Microsoft's 50 percent stake in MSNBC.com for $300 million. The contract allows Comcast to have complete control over the news site.
"Today we're taking on a new name-NBCNews.com. While our name is changing, our commitment is not," Jennifer Sizemore, editor-in-chief of NBCNews.com, said in a letter posted on the company's website.
"The ties are deep, and untangling them will take at least two years," the network said.
NBC and Microsoft worked together in 1996 to form a cable news and online news operation that combined broadcasting and internet technology.
Microsoft paid $220 million for its 50 percent equity in NBC. In 2005, the two companies decided to end the joint contract and was bought by Comcast four years after.
"NBC already bought in MSFT's stake in the cable channel MSNBC in 2005, and now NBC can more effectively cross-sell advertising of the unified brand on TV and online," said David Joyce, an analyst at Miller ZTabak.
Other analysts like the idea of the move as well, as it is said to make the Comcast structure much easier to work with.
