Update: The deal is now offical and announced. see the press release. Now comes the tough part- getting the FCC to sign off on the deal.  Stay tuned, this one isn’t done yet.

Mashable and other sources report that on Thursday Comcast is likely to buy a 51% stake in NBC, leaving GE with 49%. Comcast sits currently as the number 1 broadband and cable television provider in the United States and this venture would be a shift in Comcast’s business model in a new direction. Instead of simply delivering the ability to access content by the end user Comcast would have a major stake in content creation. NBC Universal owns USA Network, Bravo, Syfy, MSNBC, CNBC, among others.

The reasoning behind the deal makes sense for the cable giant- many folks have cable already and demand for new installs is down. Competition for Verizon’s FIOS service may also be a factor, who has been competing fiercly in some markets with competive pricing on triple play packages. The recession is no help either- consumers are losing interest for more channels (or perhaps suffering from digital cable channel OD) that increase monthly bills. Comcast and other cable subscribers also must pay studios like NBC for access to TV channels on behalf of their subscribers- if Comcast owns NBC then no doubt they will benefit from an ownership arrangement.

Sound off: Is Comcast getting a good deal on this potential purchase?