An agreement was supposed to have been announced weeks ago, but GE's talks with Vivendi have been taking longer than expected. Vivendi knew it had a strong hand -- GE wants to sell part of NBC Universal to raise money after suffering losses in its GE Capital unit. Meanwhile, Comcast wants to beef up its programming assets with a marquee name at a price it could handle -- around $5 to $7 billion cash plus contribution of its cable networks to a joint venture that would house the new NBC Universal.

Vivendi also could use the money. Two weeks ago, it invested $4.2 billion to take control of Brazilian telecom operator GVT. However, a Vivendi executive had said the company might decide not to exercise its annual window -- which ends Dec. 10 -- to sell its stake in NBC Universal. Vivendi hoped to get more than $6 billion for its NBC Universal holdings but $6 billion was GE's ceiling, the person said. The Wall Street Journal has reported that GE would pay $5.8 billion for the stake.

Comcast's agreement with GE is set and won't be affected by whatever price GE ends up paying Vivendi. Comcast wants NBC Universal largely for its lucrative cable channels. NBC Universal spans the NBC and Telemundo broadcast networks; cable channels such as Bravo and CNBC; the Universal Pictures movie studio and Universal theme parks.