In a new development, Comcast Corp. and General Electric Co. are inching closer to reach a conclusion on the deal to give Comcast a 51% stake in NBC Universal, thereby making it the controlling partner.

The formal announcement is due anytime in the coming week. GE presently holds 80% stake in NBC Universal. Post the deal, GE plans to keep the remaining 49% for itself and will reportedly contribute a whopping $12 Billion in debt to the new entity.

It has been speculated, that while this wouldn't happen anytime soon, there is a good chance that over the coming years, GE will sell its remaining share in NBC as well.

Before the deal reaches its closure, however, there are many issues that need to be resolved, including talks with the French Vivendi which owns a 20% stake in NBC Universal. The French Media giant gained the stake in 2004 post a deal with GE which brought together NBC and the company's Universal Entertainment.

All the parties involved in the deal have refrained from making any comments and all the answers will be given when the formal announcement is made.