I was writing a post on “which media company was king of digital media,” when I realized it was hard to compare the media companies because NBCU was a part of GE.
GE is arguably the most valuable diversified company, but while there is great merit in the conglomerate strategy, many voices have always called for GE to spin off some assets, namely NBCU.
The company that brings good things to life:
- operates in a myriad of different industries: we’re talking jet engines to power generation, financial services to plastics, and medical imaging to news and information.
- boasts a market capitalization of $386B.
- has an enterprise value (mkt cap + debt - cash) of $815B.
- has a company-wide price to sales ratio of 2.36.
- has a company-wide price to earnings ratio of 18.
- generated $163B in 2006 sales.
- generated EBITDA of $34.55B.
- generated net income of $21B.
But, many are calling for GE to shed its media assets, NBC Universal.
How much is NBCU worth? Not what could it get in an auction. But what’s its intrinsic value?
Well, there’s many ways to look at that, but using comparables of other large media companies, here is the analysis:
Would you pay more or less than $32B for NBCU. And if NBCU were independent, would you then merge it with another media (old or new) company?
:: Related: which media company is king of digital media?
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