General Electric Co. (GE:NYSE)

General Electric Co. (GE) and Comcast Corporation might have agreed on the structure of the board for the proposed joint venture with NBC Universal, Inc., a person familiar with the matter said. The source added that Comcast will have the majority of seats on the board. Two people familiar with the matter said that GE and Comcast are unlikely to reach a deal on the venture this weekend as GE is still in talks with Vivendi to buy its 20% stake in NBC Universal. The person noted that Vivendi is still negotiating to get the best value for its investment. They recently agreed to value NBC Universal at about $30 billion, sources previously told Reuters. Reuters reported that Comcast declined to comment and NBC Universal was not immediately available for comment. The source said that NBC Universal’s CEO, Jeff Zucker has been picked to head the proposed joint venture. Peter Chernin, the former president of News Corp who has been advising Comcast and was expected by some to lead the new entity, will not be on the board. Many sources said that GE's talks with Vivendi have been progressing, but “going slow.”

SP AusNet will be the first in the world to implement General Electric Co.'s WiMAX 4Gsmart grid solution. Working with other top-tier technology and telecommunications companies, GE is introducing a smart grid solution to deliver security and reliability benefits to nearly 700,000 Australian households, while helping SP AusNet prepare for the future of smart grid innovation-from plug-in cars to solar on rooftops. Because the solution is based on open standards, GE was able to work with a consortium of open standards-based technology companies to deliver this holistic solution to SP AusNet. GE is providing the meter communications technology across the entire network, while supplying half of the project's smart meters. GridNet supplied the PolicyNet network management system software suite to manage the meters, controllers, switches and other devices throughout SP AusNet's smart grid network. Motorola is providing the communications infrastructure.

General Electric Co. announced it will close a 34 MW factory in Newark, Delaware, as part of a solar business restructuring in response to prices falling below costs. The company was looking at other strategic alternatives to shutting down the manufacturing unit where some 82 jobs hang by a thread.