Comcast Corp and General Electric Co are closer to a deal to give Comcast a 51 percent stake in NBC Universal and a formal announcement may be made in the coming week, the New York Times said, citing people briefed on the talks.

GE, which currently owns 80 percent of NBC Universal, would keep the other 49 percent and contribute about $12 billion in debt to the new entity, according to the paper.

The paper added that GE is likely to eventually sell its ownership interest in NBC Universal over several years.

Talks with Vivendi SA, which has to agree to sell its 20 percent stake in NBC Universal, for the deal to happen, are centered around reaching an acceptable valuation of the entertainment company, the people told the paper.

GE, Comcast and Vivendi could not be immediately reached for comment by Reuters.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Muralikumar Anantharaman)