by Daniel Costello

In a deal nicely explained by Andrew Ross Sorkin in the New York Times today, Comcast Corp. announced Thursday it plans to buy a majority stake in NBC Universal for $13.75 billion, giving the nation's largest cable TV operator control of the Peacock network, a stable of cable channels and a major movie studio.

Comcast's new heft, perhaps rivaled only by Disney - which Comcast CEO Brian Roberts already tried to buy - means movies may reach cable stations more quickly after leaving theaters, and TV shows could appear faster on cell phones and other devices.

 

Meanwhile, troubled Bank of America Corp. announced some good news late Wednesday. It will repay $45 billion it got from the government after raising $18.8 billion selling new shares.

As for the rest of the funds? The bank says it will use $26.2 billion in excess liquidity, such as cash and other holdings that can be sold quickly, over the coming months or years. The remaining $18.8 billion will be raised by selling new stock.

And at least Wall Street is killing some compensation this year: the holiday Christmas party.

Investment banks Morgan Stanley, Goldman Sachs, Bank of America and Citigroup all said they do not plan on hosting any company-sponsored holiday events this year. A Morgan Stanley spokesperson said the company plans on giving the money that would have been allocated for a party to a yet-to-be-determined charity.