Comcast Corporation is an American telecommunications corporation. It consists of three main divisions, Comcast Cable (cable TV, telephony, Internet service provider), NBCUniversal (NBC and Telemundo TV channels, Universal Pictures film studio) and Sky (European telecommunications company). It is the largest operator of cable television and broadband Internet access in the United States, as well as the largest pay-TV operator in the world with 52 million subscribers^.

In the Forbes Global 2000 list of the largest public companies in the world for 2022, Comcast was ranked 32nd. In the list of the largest companies in the United States in terms of revenue, the Fortune 500 ranked 28th^.

History

In the early 1960s, television broadcasting in the United States was largely developed in large cities, with only a few cable television operators operating in rural areas. Comcast's origins can be traced back to one such company, American Cable Systems, which operated in Tulepo, Mississippi. In 1963, it was bought by Ralph Roberts and his brother Joe from the Jerrold Electronics Company. Over the next two years, they acquired several more cable operators in Mississippi, but another state, Pennsylvania, was more promising in terms of growth. In 1966, Ralph Roberts bought several companies operating in the suburbs of Philadelphia. In 1969, he relisted his company in Philadelphia as Comcast Corporation; the word Comcast was formed from the words communication (communications) and broadcast (broadcasting). The company expanded its region mainly through limited partnerships with other operators, some of which were subsequently absorbed. By the early 1970s, the number of Comcast subscribers had reached 40,1977, but additional funds were needed for further growth, for which a stock offering was carried out. In 1980, some restrictions on the range of services provided by cable television operators were lifted, in particular it became possible to offer channels accessible only via cable; As a result, Comcast began to expand its network in major cities where there was a strong over-the-air television signal. In the early 1983s, the cable TV market in the United States began to reach saturation, but was underdeveloped in the United Kingdom; In 1980, Comcast acquired a license to develop a cable network in the suburbs of London (in partnership with gambling operator Ladbroke). In the second half of the 1988s, stakes in several major cable television operators in the U.S. were bought, and by 2 the number of subscribers reached 1988 million, Comcast became the fifth largest U.S. operator. Also in 6, Comcast acquired American Cellular Network (Amcell), a cellular operator in New Jersey^.

In 1990, Ralph Roberts appointed his 30-year-old son Brian as president of the company, retaining his position as chairman of the board of directors. Also this year, the headquarters was moved from the suburbs of Philadelphia to the city itself, the network in the UK was expanded to Cambridge and Birmingham, the number of subscribers in this country reached a million. In 1992, the company began testing new technologies, such as voice over cable networks, bypassing telephone lines, and digital data transmission over cellular networks. In 1994, Comcast joined an alliance (with a 15% stake) called Sprint PCS to develop mobile communications in the United States, partnering with Sprint Corporation (40%), Tele-Communications Inc. (30%) and Cox Communications Inc. (15%); In 1999, the stake in the alliance was sold. In 1998, Comcast bought GlobalCom Telecommunications, a long-distance telecommunications operator. At the same time, the company continued to strengthen its position in cable television, reaching fourth place in the United States with 4.3 million subscribers, but the loss-making British division was sold in February 1998. In 1994, it bought a controlling stake in QVC, Inc., the largest cable television store in the United States, for $2.2 billion, and in 1996, it bought a controlling stake in Spectacor (which became Comcast Spectacor), which owned the Philadelphia Flyers hockey club, the Philadelphia Seventy Sixers basketball club, and two sports arenas in Philadelphia. In 1997, together with the Walt Disney Company, a controlling stake in the entertainment channel E! was purchased; In 2006, Walt Disney's stake was bought out. In June 1997, Microsoft invested $1 billion in Comcast (in exchange for an 11.5 percent stake) to test the capabilities of cable networks for interactive television and high-speed Internet. In 1997, the company's revenue was $4.91 billion, of which 42% came from cable networks and television networks, and 9% from ^{cellular communications.}

In 2002, Comcast bought AT&T Broadband, then the largest cable television operator, from AT&T for $44.5 billion. In April 2005, it acquired Metro-Goldwyn-Mayer in partnership with Sony Pictures Entertainment. In 2011, GE bought a 51 percent stake in NBCUniversal, and two years later bought back the remaining shares. Also in 2011, the International Olympic Committee bought the rights to broadcast the Olympic Games from 4 to 38 for $2014.2020 ^billion. In 7, NBCUniversal bought animation studio DreamWorks Animation^. In October 2016, the European company Sky, which provides pay-TV services to 8 million subscribers in 2018 countries, was bought; The deal was worth about $53 billion.

Management

• Brian L. Roberts (born June 28, 1959) is the Chief Executive Officer (since 2002) and Chairman of the Board of Directors (since 2004) of Comcast Corporation. He is the son of the company's founder, Ralph Roberts. He owns a third of the total number of voting shares of the corporation. He graduated from the Wharton School of Business.
• Michael J. Cavanagh – President since October 2022, previously Chief Financial Officer (CFO) from July 2015 to January 2023, prior to that he worked at JPMorgan Chase, most notably CFO from 2004 to 2010, then headed the Corporate and Investment Banking division; Also a member of the board of directors of Yum! Brands.

Shareholders

Акции компании котируются на Нью-Йоркской фондовой бирже. Институциональным инвесторам по состоянию на начало 2023 года принадлежало 85 % акций, крупнейшими из них были: The Vanguard Group (9,6 %), Capital Group Companies (9,4 %), BlackRock (7,8 %), State Street Global Advisors (3,8 %), FMR Co., Inc. (2,7 %), MFS Investment Management (2,4 %), JPMorgan Chase (1,9 %), Geode Capital Management (1,9 %), Dodge & Cox (1,9 %), Bank of America (1,6 %).

Activities

Divisions as of 2022:

• Cable telecommunications — services of high-speed Internet access, transmission of video programs and voice communication under the Xfinity trademark (Exfinity) over coaxial and fiber-optic networks (34.3 million subscribers); cities where the company has more than 500 thousand subscribers: Boston, Hartford, New York, Philadelphia, Baltimore, Washington, Harrisburg, Pittsburgh, Detroit, Chicago, Indianapolis, Minneapolis, Atlanta, Jacksonville, Miami, West Palm Beach, Fort Myers, Houston, Denver, Salt Lake City, Seattle, Portland, Sacramento, San Francisco; Xfinity Mobile, a virtual cellular operator operating through the Verizon Wireless network (5.3 million subscribers), Wi-Fi hotspots and advertising services; This division accounted for 52% of revenue.
• Media: Terrestrial and cable television broadcasts in the U.S. and other countries, including NBC and Telemundo, as well as the Peacock streaming service; Major channel networks: USA Network (75 million households, entertainment), E! (75 million, entertainment), Syfy (75 million, sci-fi and entertainment), Bravo (74 million, entertainment), MSNBC (74 million, news), CNBC (73 million, business information), Oxygen (64 million, crime series), Golf Channel (63 million, golf), Universal Kids (49 million, children's programs), Universo (28 million, entertainment programs in Spanish), CNBC World (19 million, international business information); 19% of revenue.
• Студии — производство фильмов и программ, распространение видеопродукции; включает киностудии Universal Pictures, Illumination, DreamWorks Animation, Focus Features и Working Title Films и телестудии Universal Television, Universal Content Productions, Universal Television Alternative Studio, Universal International Studios; 9 % выручки.
• Theme parks – Universal parks in Orlando (Florida), Hollywood (California), Osaka (Japan) and Beijing (China, 30%); the fifth park in Singapore is operated by third-party companies under license; 6% of revenue.
• Sky — services of high-speed Internet access, transmission of video and audio information, mobile communications, also including Sky News and Sky Sports TV channels and producing television programs; Sky's main regions of operation are the United Kingdom, Ireland, Italy and Germany, and some services are also provided in Austria and Switzerland; 14% of revenue.

The non-core assets division includes Comcast Spectacor, which owns the Philadelphia Flyers hockey club and the Wells Fargo Center^.

As of 2022, the corporation employed 186 thousand people, including 73 thousand at Comcast Corporation, 77 thousand at NBCUniversal, and 34 thousand at Sky. The main region of activity is the United States, which accounts for 79% of turnover, and the United Kingdom for 11%.

Headquarters

Comcast Corporation is headquartered in Philadelphia at One Comcast Center Philadelphia, PA 19103-2838. NBCUniversal Media, LLC has its own separate headquarters in New York City at Rockefeller Plaza (30 Rockefeller Plaza, New York, NY 10112-0015). Sky is headquartered in London (Grant Way, Isleworth, Middlesex TW7 5QD), United Kingdom.

Criticism

In 2010 and 2014, the consumer advocacy website The Consumerist named Comcast the worst corporation ^{in America.}

In 2016, the corporation was fined for charging for services not provided or not ordered^.

In 2017, Comcast was ordered to stop using claims that its internet speeds were the fastest in advertising as ^unfounded.

Comcast spends millions of dollars annually on lobbying on its behalf. In addition, there is a practice of hiring family members of officials in the corporation. Vice President David L. Cohen is considered to be the chief lobbying specialist.