July 11, 2012 |
Comcast Corp. disclosed in a regulatory filing on Tuesday that it reached an agreement to sell a 15.8 stake in A&E Television Networks L.L.C., the creator of cable-TV hits Pawn Stars, American Pickers and Storage Wars, for $3.025 million in cash. The Inquirer reported on the deal's final negotiations Tuesday. The buyers were Comcast's partners in A&E, the Walt Disney Co. and Hearst Co. The two companies now control A&E in a 50-50 venture. Comcast and A&E declined to comment.
July 11, 2012 |
Comcast Corp. said Tuesday that it sold its 15.8 percent stake in A&E Television Networks L.L.C. for $3.025 billion in cash. The purchaser was A&E and enables Walt Disney Co. and Hearst Corp. to share 50-50 ownership in the TV programmer, whose hit shows include Pawn Stars, Storage Wars and American Pickers . Comcast acquired its stake in A&E through NBCUniversal, which it controls in a joint venture with General Electric. The $3 billion will remain with NBCUniversal, which can use it for business purposes.
May 14, 2012 |
London, ho! Two Philadelphia-based companies will be seeking gold-medal performances at the Summer Olympics: food vendor Aramark and media giant Comcast Corp., whose NBC Sports division holds the U.S. broadcast rights. Officials from both companies spoke last week about the Games, scheduled for July 27 through Aug. 12, at a meeting hosted by the British American Business Council of Greater Philadelphia at the Cira Centre. It kicked off the fanfare for the global event, which Nick McInnes, a deputy consul-general with the British Consulate, said could generate $35 billion in economic activity.
April 24, 2012 |
Penned by the ghost writer behind popular autobiographies of Chrysler CEO Lee Iacocca and "Mayflower Madam" Sydney Biddle Barrows, An Incredible Dream, a self-published authorized corporate history, has been released by Comcast Corp. The 424-page, 27-chapter book is being distributed to more than 100,000 Comcast and NBCUniversal employees and will become an orientation must-read for new hires. The book cover bears an image of Ralph Roberts, the lead company cofounder, now 92 years old, with arms open, seemingly embracing a crowd.
April 17, 2012 |
For thousands of low-income Philadelphia households not connected to the Internet, it will take more than a bargain-rate price of $10 a month for Internet service to get them across the so-called digital divide. The fewer than 500 takers for the service Comcast Corp. began offering in September as part of its merger with NBCUniversal makes it clear greater efforts are needed. So it's good to see a "Freedom Rings" partnership, which includes city agencies, the Free Library, various nonprofits, and Drexel University, form to expand training and computer access.
March 29, 2012 |
In the Region PUC rejects 'slamming' settlement The Pennsylvania Public Utility Commission has rejected a proposed settlement that would have required MXEnergy, an electricity supplier, to pay an $11,000 penalty for 22 cases of "slamming" - switching customers to MXEnergy's service without their authorization. "We simply do not believe that a $500 per-customer penalty, even when combined with the corrective actions, is enough to remedy this situation or to deter potential future violations," PUC Chairman Robert F. Powelson and Commissioner Wayne E. Gardner said in a motion rejecting the deal.
March 11, 2012 |
Joseph Donnelly, of Lansdale, the chief financial officer for NBC Broadcasting, and a tireless advocate for Philadelphia region Catholic schools, died Friday, March 9, at Saint Luke's Hospital in New York City. Mr. Donnelly, 52, had suffered a heart attack Feb. 28 in New York and died from complications, his family said. Mr. Donnelly, who had previously served as the chief financial officer of Comcast Corp.'s programming division, was instrumental in that company's growth into a cable powerhouse and also played a key role in the company's successful merger with NBCUniversal in 2011, said Brian Roberts, the chairman of Comcast Corp.
February 22, 2012 |
Comcast Corp. announced Tuesday that it would start carrying four new minority-owned networks - in partial fulfillment of a deal with regulators and minority groups that paved the way for the Philadelphia company to take over NBCUniversal last year. The channels, backed by NBA Hall of Famer Earvin "Magic" Johnson, superstar entertainer Sean "Diddy" Combs, and others, are scheduled to launch broadly on Comcast Cable systems between April and January 2014, Comcast said. "I salute them for keeping their word," said the Rev. Al Sharpton, one of three African American leaders to sign an agreement on a wide range of minority issues with Comcast in December 2010.
February 16, 2012 |
So much for Netflix and other over-the-top Internet services quickly wiping out the cable-TV business. Comcast Corp. said Wednesday that it had virtually arrested the drain of cable-TV subscribers in the fourth quarter, and analysts speculated that the nation's largest cable company could soon add TV customers after five years of steep and damaging losses that threatened its legacy business. A quarterly loss of 17,000 cable-TV subscribers marked Comcast's best numbers since the first quarter of 2007, when it added 83,000 subscribers.