HOLLYWOOD - Media colossus NBC Universal is a giant step closer to being sold to the nation's largest cable company in a proposed $29 billion deal. A huge barrier in Philadelphia-based Comcast Corp.'s bid to become one of the country's most powerful entertainment companies was lifted when General Electric Co. - which has owned NBC for nearly a quarter-century - reached an exit strategy with its French partner Vivendi. Late Monday's development breaks a log-jam that has held up the sale of NBC Universal. Before GE can sell control of NBC Universal to Comcast, it needs to buy Vivendi's part of the company.

- Los Angeles Times