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BUSINESS
July 5, 2013
In the Region Pa. slots revenue fall is a first Slot machines at Pennsylvania's 11 casinos generated just over $2.4 billion for the fiscal year ended June 30 - a nearly 2 percent decrease from the previous 12 months, according to the Pennsylvania Gaming Control Board . It was the first decline since the state authorized casinos in 2006. The state collects a 55 percent tax on slot revenue, and the $1.3 billion in taxes generated for the year represents a decline of nearly 3 percent from the previous period.
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
June 28, 2013
Bloomberg L.P. told the Federal Communications Commission in a letter that Comcast Corp. has failed to comply with one of the merger conditions for its deal to acquire control of NBCUniversal after more than two years. Comcast agreed to "neighborhood" the business channel Bloomberg TV on its cable systems so that it could compete directly with Comcast-owned CNBC, Bloomberg says. But the cable giant has yet to neighborhood - or place Bloomberg TV and CNBC near each other on the Comcast channel lineup - for millions of subscribers, Bloomberg said.
BUSINESS
June 17, 2013
Companies have to go where their customers are, and forecasts of economic growth consistently show that more of those future customers will not be in the United States. All members of the Standard & Poor's 500 index are American companies. But make no mistake, most are global companies generating much, and in some cases most, of their sales from outside the United States. S&P Dow Jones Indices calculated that about 46 percent of S&P 500 company sales were derived from non-U.S.
BUSINESS
June 10, 2013 | By Bob Fernandez, Inquirer Staff Writer
The global director of food service operations and events at NBCUniversal, Jason Giagrande, was asked several years ago to do something - anything! - with the commissary in iconic Rockefeller Center, which had been the butt of late-night TV jokes by Johnny Carson in the 1960s and a windowless, graceless dining experience for generations of NBC employees. But no matter what Giagrande did, NBC staffers still grabbed their meals and hurried to their desks to eat, as if scurrying from a darkened New York alley.
BUSINESS
March 20, 2013 | By Bob Fernandez, INQUIRER STAFF WRITER
It's final. Comcast Corp. closed Tuesday on its $16.7-billion purchase of the 49 percent of NBCUniversal it didn't already own. The cable giant announced the deal in February and it did not need federal government approvals, which had been obtained when Comcast purchased the first 51 percent of NBCUniversal in early 2011. "We are excited the transaction has closed and look forward to taking full advantage of the opportunities for growth and innovation at our combined company," Comcast said.
NEWS
February 15, 2013 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp. could have run NBCUniversal in a joint venture with General Electric until 2018. But acting now to buy the remaining 49 percent of the news and entertainment conglomerate, investment analysts say, means that Comcast does not risk having to pay more for it later. Because Comcast has directly operated the company for two years, the deal signals confidence that the cable giant can restore rundown NBCUniversal to health, the analysts say. On Wednesday, Jessica Reif Cohen of Bank of America Merrill Lynch and Matthew Harrigan of Wunderlich Securities called the deal a "steal.
NEWS
February 14, 2013 | By Bob Fernandez, Inquirer Staff Writer
Comcast Corp., flush with billions of dollars from sales of assets and bonds, rapidly accelerated its acquisition of NBCUniversal on Tuesday, saying it would pay $16.7 billion for the 49 percent of the entertainment, news and film conglomerate that it doesn't already own. The Philadelphia cable giant expects the deal to close within the next six weeks. The seller is General Electric Co., which sold Comcast 51 percent of NBCUniversal in 2011. Comcast and GE were expected to operate NBCUniversal as a joint venture until at least mid-2014, and Comcast could have continued the joint venture through 2018.
BUSINESS
February 5, 2013
NBCUniversal head Steve Burke announced on Monday that the entertainment company hired the former CEO of Univision, Joe Uva, to head its Hispanic franchise, including Telemundo. Also, Bonnie Hammer has been promoted to head all cable channels and Lauren Zalaznick will direct innovation, monetization and emerging technology at NBCUniversal. All three will report to Burke. "More than ever, we need to simplify our organization and take advantage of the breadth of our assets," Burke said in an memo.
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