Technology Startups

Comcast buys out Microsoft stake in

16 Jul, 2012

Comcast Corp, the parent company of NBC, has bought out Microsoft Corp's  50 per cent stake in for about $300 million to assume full control of the news web site, the New York Times said, citing people with knowledge of the deal. was renamed and users were automatically redirected to the new website.

NBC and Microsoft joined forces in 1996 to create a cable news channel and online news operation that melded broadcasting with then-emerging internet technology.

The news of a possible buyout was first reported in May.

"MSNBC TV will launch a new digital home in 2013, as an extension of the MSNBC TV on-air brand," the editor-in-chief of wrote in a letter posted on MSNBC website.

Comcast and Microsoft could not be immediately reached for comment by Reuters outside regular US business hours.