• Reuters, Tuesday, November 10, 2009 11:12 PM

Comcast and GE have agreed to put NBC Universal CEO Jeff Zucker in charge of their proposed joint venture, but the structure of a new board is still being negotiated. Under the terms being discussed, Zucker will lead the new entity, with no clauses for him to leave after a specific period, say sources. In the new role, Zucker would have oversight over all of Comcast's cable networks.

As part of the proposal, NBC Universal would become a joint venture, 51% owned by Comcast and 49% by GE. Comcast would contribute around $4 billion to $6 billion in cash, as well as its collection of cable networks to pay for its stake.

There has been a lot of speculation about who will head the new company, especially since Peter Chernin -- the former president of News Corp. -- has been advising Comcast. While insiders say Zucker would be chief executive, apparently no decisions had been made on what role, if any, Chernin might play.

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