Key Developments: Comcast Corp (CMCSA.O)
40.39USD
18 Jun 2013
$0.31 (+0.77%)
$40.08
$40.22
$40.71
$40.16
9,603,675
11,770,355
$43.74
$30.17
Latest Key Developments (Source: Significant Developments)
Comcast Corp Wins TV Tennis Suit-WSJ
The Wall Street Journal reported that Comcast Corp has no obligation to distribute the independently owned Tennis Channel as widely as its own niche sports networks, a federal appeals court said, striking a blow against smaller cable channels hunting for viewers. Full Article
Comcast Corp Declares Quarterly Dividend
Comcast Corp announced that Board of Directors declared a quarterly dividend of $0.195 a share on the Company`s common stock. The quarterly dividend is payable on July 24, 2013 to shareholders of record as of the close of business on July 3, 2013. Full Article
Comcast Corp Increases Dividend By 20% To $0.78 Per Share On Annualized Basis And Plans To Repurchase $2 Billion Of Its Stock In 2013
Comcast Corp announced that it increased its dividend by 20% to $0.78 per share on an annualized basis. In accordance with the increase, the Board of Directors declared a quarterly cash dividend of $0.195 a share on the Company's common stock, payable on April 24, 2013 to shareholders of record as of the close of business on April 3, 2013. Comcast also announced that it plans to repurchase $2.0 billion of its stock during 2013, subject to market conditions. Full Article
Comcast Corp To Acquire General Electric's 49% Common Equity Ownership Interest In NBCUniversal
Comcast Corp announced that it will acquire GE's entire 49% common equity stake in the NBCUniversal joint venture for approximately $16.7 billion. Also, NBCUniversal will purchase from GE the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC`s headquarters in Englewood Cliffs, NJ for approximately $1.4 billion. The acquisition accelerates GE's divestiture ahead of a redemption period that would have begun in July 2014 and solidifies Comcast`s position as a media and technology company. The transaction is subject to customary closing conditions and is expected to close by the end of the first quarter of this year. The transactions will be funded with $11.4 billion of cash on hand, $4.0 billion of subsidiary senior unsecured notes to be issued to GE, $2.0 billion of borrowings under Comcast and/or subsidiary bank credit facilities and $725 million of subsidiary preferred stock to be issued to GE. Morgan Stanley was financial advisor to Comcast and Davis Polk & Wardwell LLP was the Company`s legal advisor. Full Article
Fox and Comcast Corp Announce Comprehensive Programming Agreement
Comcast Corp and Fox Networks (FN) announced that they have reached an agreement for a new distribution pact to deliver Fox Broadcasting`s (FOX) and Fox Television Stations` (FTS) wide array of entertainment, sports and local news content to Comcast Xfinity TV customers across televisions, computers, smartphones, tablets, gaming consoles and internet-enabled televisions. The renewal supports the companies` mutual goal to deliver video content to customers across multiple platforms. The agreement provides video service to nearly 22 million Xfinity TV customers of both live and on demand programming from 20 FTS broadcast stations (13 Fox and 7 MyNet) as well as FX, FX Movie Channel, SPEED, FUEL TV, FOX Soccer, National Geographic Channel, Nat Geo Wild, MundoFox, Fox Deportes, and Fox Business Network. Financial terms were not disclosed. However, the agreement also includes a framework for both companies to continue to collaborate on new multiplatform offerings so that the companies can take advantage of new technologies and programming through the life of the deal, including Comcast`s advanced advertising and ad systems integration services. Full Article
Four Studios Including Comcast Corp's Universal Pictures Sued Over Royalties On Home Video Revenues-Reuters
Reuters reported that four Hollywood studios were named on Wednesday in lawsuits brought by two directors and a representative for late actor Charles Bronson claiming what could be up to hundreds of millions of dollars in back royalties on films distributed to the home video market. News Corp's 20th Century Fox, Viacom Inc's Paramount Pictures, Comcast Corp's Universal Pictures and Sony Corp's Sony Pictures were sued in Los Angeles Superior Court. The four lawsuits - described in a release as a class action - were also filed on behalf of others who might be added later, said Neville Johnson, an attorney representing the plaintiffs. He said the amounts owed talent on such contracts could total hundreds of millions of dollars. Full Article
Comcast Corp Collaborates With Galvanize To Power Entrepreneurs
Comcast Corp announced that Galvanize has selected Comcast Business Class Ethernet to provide bandwidth connectivity to its entrepreneur and startup company members. Full Article
Clearwire Corp Investors Unlikely To Get Higher Sprint Nextel Corp Bid; Comcast Corp, Intel Corp And Bright House Networks LLC To Support For Deal-Reuters
Reuters reported that Sprint Nextel Corp's $2.2 billion offer for Clearwire Corp is likely to face resistance from Clearwire's minority shareholders, but accepting the offer may prove to be their best option. The Company could face a restructuring if shareholders fail to approve the acquisition, which calls for majority shareholder Sprint to pay $2.97 per share for the roughly outstanding 50% of Clearwire it doesn't already own. Sprint has already has support for the deal from owners of 13% of Clearwire shares, Comcast Corp, Intel Corp and Bright House Networks LLC. Full Article
Sprint Nextel Corp In Talks With Intel Corp And Comcast Corp To Buy Stake In Clearwire Corp-Reuters
Reuters reported that Sprint Nextel Corp is in talks with Intel Corp and Comcast Corp to buy out their stakes in the U.S. wireless provider Clearwire Corp. The cellular company, which owns just over 50% in Clearwire, would still need buy out the rest of the minority shareholders in Clearwire to gain full ownership. Intel and Comcast own a combined basis roughly 12.4% of Clearwire's total shares outstanding, including publicly traded stock and Class B shares, according to a Clearwire filing. Sprint, Clearwire, Intel and Comcast all declined to comment. Full Article
Comcast Corp Declares Quarterly Dividend
Comcast Corp announced that its Board of Directors declared a quarterly dividend of $0.1625 a share on the Company`s common stock. The quarterly dividend is payable on January 23, 2013 to shareholders of record as of the close of business on January 2, 2013. Full Article
Comcast unveils new voice-activated cable TV guide
WASHINGTON - Comcast Corp on Tuesday introduced at an industry conference a new, compact-sized cable TV box that allows viewers to use voice commands to search for TV shows, and lets users send web video to their television sets.
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