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BUSINESS
July 10, 2013 | By Bob Fernandez, Inquirer Staff Writer
Two unpaid interns at Comcast Corp.-owned NBCUniversal, one with Saturday Night Live and the other at the MSNBC cable-news channel, have filed a federal class-action lawsuit seeking at least $5 million. The case is the latest unpaid-intern suit in the U.S. entertainment industry, in which top executives earn tens of millions of dollars a year, and follows a recent court decision favorable to unpaid or underpaid interns. U.S. Judge William H. Pauley 3d in New York said on June 11 that two unpaid interns at Fox Searchlight Pictures Inc. were employees and covered by the Fair Labor Standards Act, while also granting class-action status to unpaid interns at Fox. Pauley said that the two Fox Searchlight interns displaced paid employees and "received nothing approximating the education they would receive in an academic setting or vocational school" - the requirement to being classified as interns at a for-profit company.
BUSINESS
July 4, 2013
Comcast Corp.-owned NBCUniversal acquired the Telemundo affiliate in Philadelphia, WWSI (Channel 49), from ZGS Communications for an undisclosed sum. The Spanish-language affiliate now will be part by the NBCUniversal's 16-station Telemundo Station Group. Manuel Abud, group president, said the station, now based near Penn's Landing with 11 employees, will relocate to NBC10 studios in Bala Cynwyd. The Telemundo affiliate will launch local news casts at 6 p.m. and 11 p.m. in January to grow its audience.
BUSINESS
October 6, 2013 | By Bob Fernandez, Inquirer Staff Writer
The head of the Comcast Corp.-owned Telemundo network, Emilio Romano, is leaving the company in the latest shuffle of NBCUniversal executives. Telemundo is a distant second in the fast-growing Spanish-language TV market, with a goal of closing the gap with top-watched Univision. NBCUniversal's Hispanic Enterprise and Content Group, which includes Telemundo, is now run by former Univision executive Joseph Uva. He reports to Steve Burke, the chief executive officer at NBCUniversal.
BUSINESS
December 29, 2014 | By Bob Fernandez and Amy S. Rosenberg, Inquirer Staff Writers
The Jersey Shore's NBC40 broadcasts out of a converted Frito-Lay factory off Route 9 in Linwood, home to cerebral weatherman Dan Skeldon, sports nice guy Pete Thompson, and steady news anchor Michelle Dawn Mooney. For thousands of loyal viewers in Atlantic, Cape May, and Cumberland Counties, NBC40's 6 a.m. news is the first show they watch in the morning, and the station's hyperlocal advertisers seem as familiar as the nearest Wawa. There's Pastor David McGettigan from St. Andrews by the Sea, Doug and Linda from Beachcomber Collectibles, and Bill Kassner of the Chapman Auto Group in Egg Harbor Township.
BUSINESS
May 16, 2015 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp. plans to hire 10,000 military veterans, reservists, and their spouses and domestic partners over the next three years - roughly 15 percent to 20 percent of all new employees, a Comcast human resources executive said Thursday. The hiring pledge more than doubles a prior military-hire plan at Comcast, under which the company has hired 4,200 veterans since 2012. To hit its target, the cable and Internet giant will appoint a vice president of military and veteran initiatives, who will report to Dave Watson, the cable division's chief operating officer, and John Wallace, president of operational and technical services at NBCUniversal.
NEWS
April 2, 2015 | Bob Fernandez, Inquirer Staff Writer
Michael Angelakis, 50, the Comcast Corp. executive who headed the negotiations for NBCUniversal and Time Warner Cable Inc., will resign his posts as chief financial officer and vice chairman to lead a new Comcast-controlled $4.1 billion investment arm. The new venture, which Comcast calls a "strategic company," would be one of the biggest funds of its kind in Pennsylvania and will be looking for high-return investments like one Comcast made into...
NEWS
December 11, 2014 | By Amy S. Rosenberg, Inquirer Staff Writer
Channel 40, the television station at the Jersey Shore that is home to local heroes in weatherman Dan Skeldon and sportscaster Pete Thompson, is about to lose its identity. Dropped by Comcast's NBCUniversal as an affiliate, the station will no longer be NBC40 or broadcast NBC programming after Dec. 31. And the familiar local newscast - operated by the Linwood-based Access.1 company under contract with California-based owners LocusPoint Networks - will no longer be seen on WMGM-TV after Dec. 31, according to a statement posted on the NBC40 website Tuesday.
BUSINESS
February 11, 2015 | By Bob Fernandez, Inquirer Staff Writer
Gripping his TV remote, Bob Klewans, 75, wandered into the Xfinity store on South Columbus Boulevard one recent afternoon. Unlike in years past, he was met by a Comcast greeter and chatted up by one of the store's managers. He had a problem with his remote, he said, flourishing it. They talked, and Klewans was told he could get a new one. Klewans, a retiree who seemed happy for the friendly interaction, gushed about his treatment and the remodeled store, one of the busiest in the Philadelphia area.
BUSINESS
April 16, 2014 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp. boosted the compensation for top executive Brian L. Roberts 8 percent in 2013, to $31.4 million, the company said in a regulatory filing with the Securities and Exchange Commission. Roberts, chairman and chief executive officer, was paid $29.1 million in 2012. A company spokesman said Monday that the compensation was based on Comcast's 2013 financial performance and was unrelated to the proposed $45.2 billion deal to acquire Time Warner Cable Inc. that was announced in February and was the topic of a Senate Judiciary Committee hearing in Washington last week.
BUSINESS
November 26, 2014 | By Bob Fernandez, Inquirer Staff Writer
Dish Network, the nation's third-largest pay-TV company, may drop NBCUniversal's regional sports networks in the Chicago, Washington, Sacramento, and San Francisco areas on Dec. 1. The plan seems to be part of a strategy to slim down the bundle of cable channels offered to its TV subscribers, to control price increases. Dish axed the Boston-area regional sports network in August. Comcast Corp. owns NBCUniversal and the Comcast-branded regional sports networks. Regional sports networks can be the second-most-expensive networks in a cable bundle - exceeded only by ESPN - because of the billions of dollars the networks have committed in recent years to acquiring TV rights for professional sports.
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BUSINESS
May 16, 2015 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp. plans to hire 10,000 military veterans, reservists, and their spouses and domestic partners over the next three years - roughly 15 percent to 20 percent of all new employees, a Comcast human resources executive said Thursday. The hiring pledge more than doubles a prior military-hire plan at Comcast, under which the company has hired 4,200 veterans since 2012. To hit its target, the cable and Internet giant will appoint a vice president of military and veteran initiatives, who will report to Dave Watson, the cable division's chief operating officer, and John Wallace, president of operational and technical services at NBCUniversal.
BUSINESS
May 13, 2015 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp. has hired Michael J. Cavanagh - a top Wall Street executive and former protégé of JPMorgan Chase & Co. CEO Jamie Dimon - as its chief financial officer and senior executive vice president. Cavanagh, 49, quit JPMorgan, one of the largest U.S. banks based on assets, in early 2014 as part of an exodus of top executives after heightened regulatory scrutiny of Dimon and the bank. Over the last year, Cavanagh has served as copresident and co-chief operating officer of the private equity firm Carlyle Group, which manages $193 billion in assets globally.
BUSINESS
May 6, 2015 | By Bob Fernandez, Inquirer Staff Writer
Believing its stock is undervalued after the collapsed bid for Time Warner Cable Inc., Comcast Corp. has added $2.5 billion to its share-buyback program in 2015 - for a total projected buyback this year of $6.75 billion - and CEO Brian Roberts says the Philadelphia company's focus will be to run its existing cable, Internet, and entertainment businesses. "We firmly believe the stock is undervalued," Comcast's chief financial officer, Michael Angelakis, told Wall Street analysts during a conference call Monday on the cable giant's first-quarter earnings.
NEWS
April 25, 2015 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp.'s giant deal for Time Warner Cable Inc. seemed dead Thursday after the staff of the Federal Communications Commission reportedly favored sending the $45 billion transaction to an administrative law judge for a decision. Such a move indicates that the FCC does not believe the deal would benefit consumers. A hearing before an administrative law judge - unlike private negotiations between high-level FCC officials and Comcast executives over conditions of the merger - would offer Comcast opponents another public forum in which to blast the transaction.
NEWS
April 2, 2015 | Bob Fernandez, Inquirer Staff Writer
Michael Angelakis, 50, the Comcast Corp. executive who headed the negotiations for NBCUniversal and Time Warner Cable Inc., will resign his posts as chief financial officer and vice chairman to lead a new Comcast-controlled $4.1 billion investment arm. The new venture, which Comcast calls a "strategic company," would be one of the biggest funds of its kind in Pennsylvania and will be looking for high-return investments like one Comcast made into...
BUSINESS
February 26, 2015 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp. CEO Brian Roberts told analysts Tuesday that he hopes federal regulators will give their full attention to the company's proposed $45 billion acquisition of Time Warner Cable Inc. after Thursday's scheduled FCC vote on net neutrality. Roberts declined to be more specific on the merger review, though he said the Federal Communications Commission had an informal deadline of finishing its review of Comcast/Time Warner Cable by the end of March. The Justice Department also is reviewing the megadeal, which has run into stiff opposition from Dish Network, Netflix, and advocacy groups, and seems bogged down in Washington.
BUSINESS
February 11, 2015 | By Bob Fernandez, Inquirer Staff Writer
Gripping his TV remote, Bob Klewans, 75, wandered into the Xfinity store on South Columbus Boulevard one recent afternoon. Unlike in years past, he was met by a Comcast greeter and chatted up by one of the store's managers. He had a problem with his remote, he said, flourishing it. They talked, and Klewans was told he could get a new one. Klewans, a retiree who seemed happy for the friendly interaction, gushed about his treatment and the remodeled store, one of the busiest in the Philadelphia area.
BUSINESS
February 4, 2015 | By Bob Fernandez, Inquirer Staff Writer
With about 25 seconds to go in Sunday's Super Bowl and the Seahawks in the red zone, on the television screen, Comcast's Xfinity Sports Extras app was giving Seattle an 81 percent probability of beating New England. Then Patriots safety Malcolm Butler jumped in front of Ricardo Lockette and intercepted a pass, dashing the Seahawks' hopes. Seattle's win probability: zero. Throughout the game, at dramatic and uneventful moments, even during commercials, Sports Extras fed TV viewers new pie charts, photos, or information graphs every 10 to 20 seconds - facts those TV viewers did not have to find on ESPN or scour Twitter for. "The sports-viewing experience now requires enhanced content, and if you are not getting it on your TV, you are getting it someplace else," said Jason Angelides, cofounder of OneTwoSee, the Philadelphia tech company that developed Sports Extras.
BUSINESS
December 29, 2014 | By Bob Fernandez and Amy S. Rosenberg, Inquirer Staff Writers
The Jersey Shore's NBC40 broadcasts out of a converted Frito-Lay factory off Route 9 in Linwood, home to cerebral weatherman Dan Skeldon, sports nice guy Pete Thompson, and steady news anchor Michelle Dawn Mooney. For thousands of loyal viewers in Atlantic, Cape May, and Cumberland Counties, NBC40's 6 a.m. news is the first show they watch in the morning, and the station's hyperlocal advertisers seem as familiar as the nearest Wawa. There's Pastor David McGettigan from St. Andrews by the Sea, Doug and Linda from Beachcomber Collectibles, and Bill Kassner of the Chapman Auto Group in Egg Harbor Township.
BUSINESS
December 25, 2014 | By Bob Fernandez, Inquirer Staff Writer
Michael Angelakis, Comcast Corp.'s financial guru and vice chairman, was named one of the nation's top chief financial officers by the Wall Street Journal on Tuesday. The Journal rated him third, based on Comcast's return on invested capital, operating margin, dividend growth, and share buybacks over the last three years. The top two CFOs were Karen Hoguet of Macy's Inc. and Robert Knight of Union Pacific Corp. The Journal evaluated the financial performance of the companies in the S&P 500 index.
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