Hulu is still looking for a buyer, and the potential buyers are still looking for some promises of future content access before they make any moves. Hulu has stepped forward with a promise of 5 years of content, two years of which will be exclusive, from Disney, News Corp. and NBC. [Bloomberg]

The federal government is allowing Comcast Corporation (NASDAQ:CMCSA) to merge with NBC, but there are limitations. Comcast will not be allowed to sabotage Hulu.com when buying NBC. Comcast’s acquisition of NBC was worth about $30 billion. Media industry executives were interested to see how Comcast would influence Hulu.com. NBC Universal helped create Hulu and owns about 30% of the website.

ABC, CBS, and NBC stated that they are not going to allow full length episodes of their shows on Google TV. However they will allow promotional clips when browsing with Google TV. Google TV lets you access the web browser and YouTube from your TV screen.

Video streaming service Hulu.com is considering an IPO. Hulu is expected to have a valuation of $2 billion if they were to go public now. Hulu execs have already started working with investment banks about the possibilities.

NBC Universal is being hit with a lawsuit because of a domain name sale that went wrong. DONE! Ventures CEO Ben Padnos claims that NBC accepted an offer to sell Women.com and Women.net for $1 million. However NBC President and CEO Jeff Zucker blocked the transaction even after an agreement was reached.

Comcast may be the new majority shareholder in NBC, but General Electric has promised to buy about $345 million worth of ads from the TV network over the next 5 years. About $59 million will be spent each year, adding up to the $345 million. GE will also buy $50 million worth of 2012 Olympic Games ads. NBC owns the rights to the 2012 Olympic Games broadcast. The financial details of this transaction was revealed on an SEC filing.

Last year, GE spent $1.2 billion for advertising and most of that went towards marketing NBC Universal movies. The filing also revealed that Comcast cannot sell its stake for at least four years and GE cannot sell its stake for at least 3.5 years. After that period of time, Comcast will have the right to buy out NBC completely.

Comcast agreed to pay $6.5 billion in cash along with $7.25 billion in assets to gain control of NBC. The whole deal was valued at about $30 billion.

Comcast Corporation and General Electric has entered an agreement that would give Comcast the controlling interest in NBC Universal Inc.  Comcast is paying $6.5 billion in cash and the cable company agreed NBC to maintain its editorial independence for NBC News.  Comcast is also currently negotiating buying NBC Universal as a whole.  To appease shareholders further, Comcast agreed to pay the annual cash dividend to 40% which is almost $0.38 per share next year.

Comcast said that the merger makes them “strategically complete.”  Comcast said that the reason why for buying NBC was because the network owned highly profitable TV channels such as USA, CNBC, MSNBC, Bravo, and Syfy.  Comcast will own 51% of NBC.  The deal values NBC at about $30 billion.

“This deal is a perfect fit for us,” stated Comcast CEO Brian Roberts. “We are honored that under this agreement Comcast would take over stewardship of this important collection of assets and are absolutely committed to investing in NBCU and ensuring that it is a vibrant, financially strong company able to thrive in a rapidly evolving marketplace by delivering innovative programming.”

Greystripe is a mobile advertising company that has recently raised $2 million from NBC’s Peacock Equity Fund.  Peacock Equity Fund is a joint venture between GE and NBC Universal.  This is Greystripe’s Series C round of funding.  Greystripe now has about $17.6 in total venture funding.

Greystripe previously raised funding from Incubic Venture Capital, Steamboat Ventures, and Monitor Ventures.  Greystripe will be powering the advertising on the applications for several media companies including Sci-Fi Channel, Bravo, and MSNBC.