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Comcast Corporation (formerly known as American Cable Systems and Comcast Holdings),Before the AT&T merger in 2001, the parent company was Comcast Holdings Corporation. Comcast Holdings Corporation now refers to a subsidiary of Comcast Corporation, not the parent company (see
Bloomberg profile on Comcast Holdings Corporation
. Technically, the current parent company was founded December 7, 2001 as CAB Holdings Corporation, which changed its name to AT&T Comcast Corporation before finally taking on the Comcast Corporation name (see
Nov 2002 8K/A Form
an
Nov 2002 S-4
)
headquartered in Philadelphia, is the largest American multinational telecommunications
conglomerate Conglomerate or conglomeration may refer to: * Conglomerate (company) * Conglomerate (geology) * Conglomerate (mathematics) In popular culture: * The Conglomerate (American group), a production crew and musical group founded by Busta Rhymes ** Co ...
. It is the second-largest broadcasting and cable television company in the world by revenue (behind AT&T), the largest pay-TV company, the largest cable TV company and largest home Internet service provider in the United States, and the nation's third-largest home telephone service provider. It provides services to U.S. residential and commercial customers in 40 states and the District of Columbia.Comcast 2008 Form 10-K
, files.shareholder.com
As the parent company of the international media company NBCUniversal since 2011, Comcast is a producer of feature films for theatrical exhibition, and over-the-air and cable television programming. Comcast owns and operates the Xfinity residential cable communications subsidiary, Comcast Business, a commercial services provider; Xfinity Mobile, an MVNO of Verizon; over-the-air national broadcast network channels ( NBC, Telemundo,
TeleXitos TeleXitos is an American Spanish language digital subchannel, digital multicast television network owned by Telemundo, NBCUniversal Telemundo Enterprises, a subsidiary of the Universal Pictures, NBCUniversal Filmed and Entertainment division of N ...
, and
Cozi TV Cozi TV (stylized on-air as COZI TV) is an American free-to-air television network owned by the NBC Owned Television Stations division of NBCUniversal. The network airs classic television series from the 1960s to the 2000s. The network origina ...
); multiple cable-only channels (including MSNBC, CNBC, USA Network,
Syfy Syfy (formerly Sci-Fi Channel, later shortened to Sci Fi; stylized as SYFY) is an American basic cable channel owned by the NBCUniversal Television and Streaming division of Comcast's NBCUniversal through NBCUniversal Cable Entertainment. Lau ...
,
NBCSN NBCSN was an American sports television television channel, channel owned by the NBC Sports Group division of NBCUniversal, a subsidiary of Comcast. It originally launched on July 1, 1995, as the Outdoor Life Network (OLN), which was dedicated t ...
, Oxygen,
Bravo Bravo(s) or The Bravo(s) may refer to: Arts and entertainment Music Groups and labels *Bravo (band), a Russian rock band * Bravo (Spanish group), represented Spain at Eurovision 1984 *Bravo Music, an American concert band music publishing company ...
, and E!); the film studio Universal Pictures; the VOD streaming service Peacock; animation studios (
DreamWorks Animation DreamWorks Animation LLC (DWA, also known as DreamWorks Animation Studios and simply known as DreamWorks) is an American animation studio that produces animated films and television programs and is a subsidiary of Universal Pictures, a division ...
, Illumination,
Universal Animation Studios Universal Animation Studios (formerly known as Universal Cartoon Studios) is an American animation studio and a division of Universal Pictures, a subsidiary of NBCUniversal, which is owned by Comcast. It has produced direct-to-video sequels to Un ...
) and Universal Parks & Resorts. It also has significant holdings in digital distribution, such as
thePlatform thePlatform was a Seattle, Washington based online video publishing company that was acquired by Comcast in 2006. The company worked with digital media companies to manage and publish video and audio. It was absorbed into the newly formed Comca ...
, which it acquired in 2006; and ad-tech company FreeWheel, which it acquired in 2014, and has also been the owner of the British media and telecommunications company Sky Group since October 2018. Comcast has been criticized for a variety of reasons. Its customer satisfaction ratings were among the lowest in the cable industry during the years 2008–2010.J.D. Power Releases 2008 Residential Television Service Satisfaction Survey
News.ecoustics.com. Retrieved on July 8, 2011.
It has violated net neutrality practices in the past, and, despite its commitment to a narrow definition of net neutrality, critics advocate a definition that precludes any distinction between Comcast's private network services and the rest of the Internet.Modine, Austin. (January 21, 2009
TheRegister.co.uk
TheRegister.co.uk. Retrieved on July 8, 2011.
Critics also point out a lack of competition in the vast majority of Comcast's service areas; in particular, the limited competition among cable providers. Given its negotiating power as a large ISP, some suspect that it could leverage paid
peering agreements In computer networking, peering is a voluntary interconnection of administratively separate Internet networks for the purpose of exchanging traffic between the "down-stream" users of each network. Peering is settlement-free, also known as "bill-and ...
to unfairly influence end-user connection speeds. Its ownership of both content production (in NBCUniversal) and distribution (as an ISP) has raised antitrust concerns. These issues and others led to Comcast being dubbed "The Worst Company in America" by '' The Consumerist'' in 2010 and 2014.


Overview


Leadership

Comcast is described as a family business. Brian L. Roberts, its chairman, president and CEO, is the son of founder
Ralph J. Roberts Ralph Joel Roberts (March 13, 1920June 18, 2015) was an American businessman who was the founder of Comcast, serving as its CEO for 46 years. In 2011 he served as founder and chairman emeritus of Comcast's board of directors until his death. E ...
. Roberts owns or controls about 1% of all Comcast shares but all of the Class B supervoting shares, giving him an "undilutable 33% voting power over the company".All of Comcast's class B common stock, which controls 33.3% of voting power, is owned by CEO Brian Roberts. (see ) Legal expert
Susan P. Crawford Susan P. Crawford (born February 27, 1963) is the John A. Reilly Clinical Professor of Law at Harvard Law School. She served as President Barack Obama's Special Assistant for Science, Technology, and Innovation Policy (2009) and is a columnist f ...
has said this gives him "effective control over omcast'severy step". In 2010, he was one of the highest paid executives in the United States, with total compensation of about $31 million.


Board of directors

As of May 17, 2020: * Brian L. Roberts, chairman and CEO of Comcast * Kenneth J. Bacon, former Fannie Mae executive * Madeline S. Bell, president and CEO of Children's Hospital of Philadelphia *
Edward D. Breen Edward D. Breen (born c. 1956) is an American business executive. He is the Executive Chairman of DuPont. Prior to this, he was the chair of the board and CEO of DuPont, a role he started on November 9, 2015. He also serves as a director of Comcast ...
(lead independent director), executive chairman and CEO of
DuPont DuPont de Nemours, Inc., commonly shortened to DuPont, is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in ...
*
Gerald Hassell Gerald L. Hassell (born 1952) is an American bank executive and is the former Chairman and CEO of The Bank of New York Mellon. Career Gerald Hassell joined the Bank of New York in 1973 when he was only 21 years old as a management trainee, and h ...
, former chairman and CEO of The Bank of New York Mellon * Jeffrey Honickman, CEO of
Pepsi-Cola Pepsi is a carbonated soft drink manufactured by PepsiCo. Originally created and developed in 1893 by Caleb Bradham and introduced as Brad's Drink, it was renamed as Pepsi-Cola in 1898, and then shortened to Pepsi in 1961. History Pepsi was ...
Bottling * Maritza Montiel, former deputy chairman and CEO of Deloitte * Asuka Nakahara, former CFO of Trammell Crow *
David C. Novak David Charles Novak (born October 30, 1952) is an American businessman, author and philanthropist. He is the founder and CEO of David Novak Leadership, and co-founder and former CEO of YUM! Brands Inc. Early life and education Novak was born ...
, former chairman and CEO of YUM! Brands


Corporate offices

Comcast is headquartered in Philadelphia, Pennsylvania, and has offices in Atlanta, Detroit, Denver, Manchester, New Hampshire and New York City. On January 3, 2005, it announced it would become the anchor tenant in the new Comcast Center in downtown Philadelphia—at , the second-tallest skyscraper in Pennsylvania. In the fall of 2018, it finished construction of the Comcast Technology Center, Pennsylvania's tallest skyscraper, adjacent to its original headquarters. As of 2019, the company had 184,000 employees.


Employee relations

Comcast is often criticized by the media and its own staff for its less-than-upstanding policies of employee relations. A 2014 investigative series published by '' The Verge'' involved interviews with 150 Comcast employees, and examined why the company was so widely criticized by its customers, the media, and its own workers. It concluded that Comcast's staff endured unreasonable corporate policies: "Customer service has been replaced by an obsession with sales; technicians are understaffed … tech support is poorly trained, and the company is hobbled by internal fragmentation." A widely read article by an anonymous Comcast call center employee appeared in November 2014 on ''Cracked''. Titled "Five Nightmares You Live While Working For America's Worst Company", it claimed that Comcast was obsessed with sales, didn't train its employees properly, and concluded that "the system makes good customer service impossible." Comcast has also earned a reputation as anti-union. A company training manual says, "Comcast does not feel union representation is in the best interest of its employees, customers, or shareholders". A dispute in 2004 with
CWA CWA or Cwa may refer to: Organisations * CWA Constructions, a Swiss manufacturer of gondolas and people mover cabins, a division of Doppelmayr Garaventa Group * Catch Wrestling Association, a former German professional wrestling promotion * Contin ...
, a labor union representing many employees at Comcast's Beaverton, Oregon offices, led to allegations of management intimidating workers, requiring them to attend anti-union meetings and unwarranted disciplinary action for union members. In 2011, Comcast received criticism from Writers Guild of America for its policies regarding unions. Despite these criticisms, Comcast has appeared on multiple "top places to work" lists. In 2009, it was included on ''CableFAX'' magazine's "Top 10 Places to Work in Cable", which cited its "scale, savvy and vision". Similarly, the '' Philadelphia Business Journal'' awarded Comcast the silver medal among extra-large companies in Philadelphia, with the gold medal going to partner organization, Comcast-Spectacor. '' The Boston Globe'' found Comcast to be that city's top place to work in 2009. Employee diversity is also an attribute upon which Comcast receives strong marks. In 2008, '' Black Enterprise'' magazine rated Comcast among the top 15 companies for workforce diversity. Comcast was also named a "Top 2014 Workplace" by '' The Washington Post'' in their annual feature. The
Human Rights Campaign The Human Rights Campaign (HRC) is an American LGBTQ advocacy group. It is the largest LGBTQ political lobbying organization within the United States. Based in Washington, D.C., the organization focuses on protecting and expanding rights for LGB ...
has given Comcast a 100 on the Corporate Equality Index and one of the best places for LGBT people to work.


Financial performance

The book value of the company nearly doubled from $8.19 a share in 1999 to $15 a share in 2009. Revenues grew sixfold from 1999's $6 billion to almost $36 billion in 2009. Net profit margin rose from 4.2% in 1999 to 8.4% in 2009, with operating margins improving 31% and return on equity doubling to 6.7% in the same time span. Between 1999 and 2009, return on capital nearly tripled to 7%.Malcolm Berko: Taking stock
, '' The State Journal-Register'', October 7, 2009.
Comcast reported first quarter 2012 profit increases of 30% due to increase in high-speed internet customers. In February 2014, Comcast generated $1.1 billion in revenue during the first quarter due to the
2014 Winter Olympics , ''Zharkie. Zimnie. Tvoi'') , nations = 88 , events = 98 in 7 sports (15 disciplines) , athletes = 2,873 , opening = 7 February 2014 , closing = 23 February 2014 , opened_by = President Vladimir Putin , cauldron = , stadium = Fisht Olympic ...
in
Sochi Sochi ( rus, Со́чи, p=ˈsotɕɪ, a=Ru-Сочи.ogg) is the largest resort city in Russia. The city is situated on the Sochi River, along the Black Sea in Southern Russia, with a population of 466,078 residents, up to 600,000 residents in ...
. , Comcast is ranked 28th on the
Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...
rankings of the largest United States corporations by total revenue. For the fiscal year 2017, Comcast reported earnings of US$22.7 billion, with an annual revenue of US$84.5 billion, an increase of 5.5% over the previous fiscal cycle. Comcast's shares traded at over $47 per share, and its market capitalization was valued at over US$213.4 billion in February 2022.


Lobbying and electoral fundraising

With $18.8 million spent in 2013, Comcast has the seventh largest lobbying budget of any individual company or organization in the United States. Comcast employs multiple former
U.S. Congressmen The United States House of Representatives, often referred to as the House of Representatives, the U.S. House, or simply the House, is the lower chamber of the United States Congress, with the Senate being the upper chamber. Together they c ...
as lobbyists. The National Cable & Telecommunications Association, which has multiple Comcast executives on its board, also represents Comcast and other cable companies as the fifth largest lobbying organization in the United States, spending $19.8 million in 2013. Comcast was among the top backers of Barack Obama's presidential runs, with Comcast vice president David Cohen raising over $2.2 million from 2007 to 2012. Cohen has been described by many sources as influential in the U.S. government, though he is no longer a registered lobbyist, as the time he spends lobbying falls short of the 20% which requires official registration. Comcast's
PAC Pac or PAC may refer to: Military * Rapid Deployment Force (Malaysia), an armed forces unit * Patriot Advanced Capability, of the MIM-104 Patriot missile * Civil Defense Patrols (''Patrullas de Autodefensa Civil''), Guatemalan militia and paramili ...
, the Comcast Corporation and NBCUniversal Political Action Committee, is among the largest PACs in the U.S., raising about $3.7 million from 2011 to 2012 for the campaigns of various candidates for office in the United States Federal Government. Comcast is also a major backer of the National Cable and Telecommunications Association Political Action Committee, which raised $2.6 million from 2011 to 2012. Comcast spent the most money of any organization in support of the Stop Online Piracy and PROTECT IP bills, spending roughly $5 million to lobby for their passage. Comcast also backs lobbying and PACs on a regional level, backing organizations such as the Tennessee Cable Telecommunications Association and the Broadband Communications Association of Washington PAC. Comcast and other cable companies have lobbied state governments to pass legislation restricting or banning individual cities from offering public broadband service. Municipal broadband restrictions of varying scope have been passed in a total of 20 U.S. States. According to watchdog group Documented, in 2020 Comcast contributed $200,000 to the Rule of Law Defense Fund, a fund-raising arm of the Republican Attorneys General Association that was shown to have provided funding to the Save America March that devolved into an attack on the U.S. Capitol on January 6, 2021.


Philanthropy

Comcast offers low cost internet and cable service to schools, subsidized by general broadband consumers through the U.S. government's
E-Rate E-Rate is the commonly used name for the Schools and Libraries Program of the Universal Service Fund, which is administered by the Universal Service Administrative Company (USAC) under the direction of the Federal Communications Commission (FCC). ...
program. Critics have noted that many of the strongest supporters of Comcast's business deals have received substantial funding from the Comcast Foundation. However, it is important to note that for years, Comcast has been relying on subsidiaries to finance philanthropic pursuits.


History


American Cable Systems

In 1963,
Ralph J. Roberts Ralph Joel Roberts (March 13, 1920June 18, 2015) was an American businessman who was the founder of Comcast, serving as its CEO for 46 years. In 2011 he served as founder and chairman emeritus of Comcast's board of directors until his death. E ...
in conjunction with his two business partners, Daniel Aaron and
Julian A. Brodsky Julian A. Brodsky (born July 16, 1933) is an American businessman, the co-founder of Comcast Corporation and served as its chief financial officer and vice chairman. He also served as co-founder and chair of Comcast Interactive Capital, Comcast ...
, purchased American Cable Systems as a corporate spin-off from its parent, Jerrold Electronics, for U.S. $500,000. At the time, American Cable was a small cable operator in
Tupelo, Mississippi Tupelo () is a city in and the county seat of Lee County, Mississippi, United States. With an estimated population of 38,300, Tupelo is the sixth-largest city in Mississippi and is considered a commercial, industrial, and cultural hub of North M ...
, with five channels and 12,000 customers. In 1965, American Cable Systems purchased Storecast Corporation of America, a product placement supermarket specialist marketing firm. In 1968, American Cable Systems purchased its first franchise of Muzak, a brand of background music played in retail stores. Storecast was a client of Muzak.


Comcast

The company was re-incorporated in Pennsylvania in 1969, under the new name Comcast Corporation. Comcast's initial public offering occurred on June 29, 1972, with a
market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by t ...
of U.S. $3,010,000. In 1977,
HBO Home Box Office (HBO) is an American premium television network, which is the flagship property of namesake parent subsidiary Home Box Office, Inc., itself a unit owned by Warner Bros. Discovery. The overall Home Box Office business unit is ba ...
was first launched on a Comcast system with 20,000 customers in western Pennsylvania with a five-night free preview getting a 15% sign up rate. In 1986, Comcast bought 26% of
Group W Cable The Westinghouse Broadcasting Company, also known as Group W, was the broadcasting division of Westinghouse Electric Corporation. It owned several radio and television stations across the United States and distributed television shows for syndica ...
, a broadcast company, doubling its number of subscribers to 1 million. Also that year, Comcast made a founding investment of $380 million in
QVC QVC (short for "Quality Value Convenience") is an American free-to-air television network, and flagship shopping channel specializing in televised home shopping, owned by Qurate Retail Group. Founded in 1986 by Joseph Segel in West Chester, Penn ...
. In 1988, Comcast was able to buy a 50% share of SCI Holdings in a joint deal with Tele-Communications Inc. Comcast also acquired American Cellular Network Corporation in 1988 for $230 million, marking the first time it became a mobile phone operator.


Increasing market share (1990–2001)

In February 1990, Ralph Roberts' son, Brian L. Roberts, succeeded his father as president of Comcast. Two years later, the company's mobile division, Comcast Cellular, purchased a controlling interest in Metromedia's Philadelphia-area cellular telephone interests, Metrophone. By 1994, Comcast owned 50% stock in the cable communications company Garden State Cable, who by that year were serving approximately 195,000 subscribers. That same year, Comcast became the third-largest cable operator in the United States, with around 3.5 million subscribers following its purchase of Maclean-Hunter's American division for $1.27 billion. Comcast grew to 4.3 million subscribers the following year with the purchase of the cable operation of
E. W. Scripps Company The E. W. Scripps Company is an American broadcasting company founded in 1878 as a chain of daily newspapers by Edward Willis "E. W." Scripps and his sister, Ellen Browning Scripps. It was also formerly a media conglomerate. The company is he ...
for $1.575 billion in stock. Comcast offered internet connection for the first time in 1996, with its part in the launch of the
@Home Network @Home Network was a high-speed cable Internet service provider from 1996 to 2002. It was founded by Milo Medin, cable companies Tele-Communications Inc. (TCI), Comcast, and Cox Communications, and William Randolph Hearst III, who was their fir ...
. Also in 1996, Comcast formed
Comcast Spectacor Comcast Spectacor is a Philadelphia-based American sports and entertainment company. It owns the Philadelphia Flyers of the National Hockey League, the Maine Mariners of the ECHL, the Philadelphia Wings of the National Lacrosse League, the Phi ...
, which became owner of the Philadelphia Flyers. In 1997, Microsoft invested $1 billion in Comcast, and the company launched its digital TV service. That same year, in partnership with Disney, Comcast got a 50.1% controlling interest in E! Entertainment. By December 31, 1997, it was available in the Philadelphia, Detroit,
Baltimore Baltimore ( , locally: or ) is the most populous city in the U.S. state of Maryland, fourth most populous city in the Mid-Atlantic, and the 30th most populous city in the United States with a population of 585,708 in 2020. Baltimore was d ...
, Orange County, California, Sarasota and Union, New Jersey areas. Comcast's cable acquisitions in 1997 were Jones Intercable, Inc. with 1 million customers, and a stake in Prime Communications with 430,000 subscribers. In February 1998, Comcast sold its U.K. division to NTL for US$600 million, along with the division's $397 million in debt. In 1999, Comcast sold Comcast Cellular to
SBC Communications The history of AT&T dates back to the invention of the telephone. The Bell Telephone Company was established in 1877 by Alexander Graham Bell, who obtained the first US patent for the telephone, and his father-in-law, Gardiner Greene Hubbard. Bell ...
for $400 million, releasing them from $1.27 billion in debt. Also in 1999, Comcast acquired Greater Philadelphia Cablevision, and launched Comcast University as well as Comcast Interactive Capital Group. In November 1999, Comcast purchased Lenfest Communications, who were the ninth largest cable television operator at the time and were the largest operator in the Philadelphia area. This consolidated Comcast's control over all of the Philadelphia region, and earned them approximately 1.3 million additional cable subscribers. The purchase of Lenfest also bought Comcast the remaining 50% stock of the cable operator Garden State Communications — a company whom Comcast had already owned half of in partnership with Lenfest for years. Comcast quickly replaced the ten-year general manager at Garden State with their own executive, and eventually Garden State ceased operating under its own name and was fully merged to become a part of the Comcast Corporation.


Largest U.S. cable provider (2001–present)

In 2001, Comcast announced it would acquire the assets of the largest cable television operator at the time,
AT&T Broadband AT&T Broadband was AT&T's cable operations division. It was formed in 1999 when AT&T acquired the assets of TCI and renamed it to AT&T Broadband. The next year, AT&T Broadband acquired MediaOne as well and became the largest cable operations com ...
, for $44.5 billion. The proposed name for the merged company was "AT&T Comcast", but the companies ultimately decided to keep only the Comcast name. In 2002, Comcast acquired all assets of AT&T Broadband, thus making Comcast the largest cable television company in the United States with over 22 million subscribers. This spurred the start of Comcast Advertising Sales (using AT&T's groundwork) which would later be renamed
Comcast Spotlight Comcast Cable Communications, LLC, doing business as Xfinity, is an American telecommunications company and division of Comcast Corporation used to market consumer cable television, internet, telephone, and wireless services provided by the com ...
and now effectv, A Comcast Company. As part of this acquisition, Comcast also acquired the National Digital Television Center in Centennial, Colorado as a wholly owned subsidiary, now known as the ''Comcast Media Center''. In 2003, Comcast became one of the original investors in The Golf Channel. After Excite@Home went bankrupt in October 2001, Comcast took over providing internet directly to consumers in January 2002. On February 11, 2004, Comcast announced a $54 billion bid for The Walt Disney Company, including taking on $12 billion of Disney's debt. The deal would have made Comcast the largest media conglomerate in the world. However, after rejection by Disney and uncertain response from investors, the bid was abandoned in April. In 2004, Comcast sold its QVC shares to
Liberty Media Liberty Media Corporation (commonly referred to as Liberty Media or just Liberty) is an American mass media company controlled by chairman John C. Malone. The company has three divisions, reflecting the company's ownership stakes in Formula One ...
for $7.9 billion. On April 8, 2005, a partnership led by Comcast and
Sony Pictures Entertainment Sony Pictures Entertainment Inc. (commonly known as Sony Pictures or SPE, and formerly known as Columbia Pictures Entertainment, Inc.) is an American diversified multinational mass media and entertainment studio conglomerate that produces, ac ...
finalized a deal to acquire MGM and its affiliate studio, United Artists, and created an additional outlet to carry MGM/UA's material for cable and Internet distribution. On October 31, 2005, Comcast officially announced that it had acquired
Susquehanna Communications York Community Access Television (YCAT) was a Public-access television cable TV station in York, Pennsylvania. The current cable system in the City of York began operations soon after the city and York Cable Co. reached agreement on the city’s f ...
, a South Central Pennsylvania-based cable television and broadband services provider and unit of the former
Susquehanna Pfaltzgraff The Susquehanna Pfaltzgraff Company was a conglomerate of companies that started in the 19th century with Johann George Pfaltzgraff's emigration from Germany to York, Pennsylvania (in the Susquehanna Valley). Johann Pfaltzgraff was a potter and, ...
company, for $775 million cash. Comcast previously owned approximately 30% of Susquehanna Communications through its affiliate company, Lenfest. In December 2005, Comcast announced the creation of
Comcast Interactive Media Comcast Interactive Media (CIM) was a division of Comcast focusing on digital media. CIM was created in 2005 and originally led by President, Amy Banse, and Executive Vice President, Sam Schwartz. Comcast Interactive Media products included: www.co ...
, a new division focused on online media. In July 2006, Comcast purchased the Seattle-based software company thePlatform. This represented an entry into a new line of business—selling software to allow companies to manage their Internet (and IP-based) media publishing efforts. On April 3, 2007, Comcast announced it would acquire the cable systems owned and operated by Patriot Media, a privately held company owned by cable veteran Steven J. Simmons,
Spectrum Equity Investors Spectrum Equity is an American growth equity firm that invests in businesses related to the information economy. The company operates out of offices in Boston, MA and San Francisco, CA. The company was an early investor in Ancestry.com and Grubhub ...
and Spire Capital, that served approximately 81,000 video subscribers for $483 million. Comcast announced in May 2007 and launched in September 2008 a dashboard called SmartZone that allowed users to perform mobile functions online. There was also Cloudmark
spam Spam may refer to: * Spam (food), a canned pork meat product * Spamming, unsolicited or undesired electronic messages ** Email spam, unsolicited, undesired, or illegal email messages ** Messaging spam, spam targeting users of instant messaging ( ...
and phishing protection and Trend Micro antivirus. The address book is Comcast
Plaxo Plaxo was an online address book that launched in 2002. It was a subsidiary of cable television company Comcast from 2008 to 2017. At one point it offered a social networking service. History The company was founded by Sean Parker and two Stanfo ...
software. In May 2008, Comcast purchased Plaxo for a reported $150 million to $170 million. Comcast won the ''Consumerist'' Worst Company In America ("Golden Poo") award in 2010. A gold trophy in the shape of a pile of
human feces Human feces (or faeces in British English) is the solid or semisolid remains of food that could not be digested or absorbed in the small intestine of humans, but has been further broken down by bacteria in the large intestine. It also contains b ...
was delivered to Comcast Corporate Headquarters to commemorate the unmatched level of enmity flowing from their customer base to their business. Comcast responded immediately by publicly acknowledging the dubious award and citing ongoing efforts to improve its customer service. One effort to change this is a new app called Tech ETA that allows customers to see exactly when a technician is coming.


Adelphia purchase

In April 2005, Comcast and Time Warner Cable announced plans to buy the assets of bankrupted
Adelphia Cable Adelphia Communications Corporation was an American cable television company with headquarters in Coudersport, Pennsylvania. It was founded in 1952 by brothers Gus and John Rigas after the pair purchased a cable television franchise for US$300. C ...
. The two companies paid a total of $17.6 billion in the deal that was finalized in the second quarter of 2006—after the U.S. Federal Communications Commission (FCC) completed a seven-month investigation without raising an objection. Time Warner Cable became the second-largest cable provider in the U.S., ranking behind Comcast. As part of the deal, Time Warner Cable and Comcast traded existing subscribers in order to consolidate them into larger geographic clusters. In August 2006, Comcast and Time Warner Cable dissolved a 50/50 partnership that controlled the systems in the Houston, Southwest Texas, San Antonio, and
Kansas City The Kansas City metropolitan area is a bi-state metropolitan area anchored by Kansas City, Missouri. Its 14 counties straddle the border between the U.S. states of Missouri (9 counties) and Kansas (5 counties). With and a population of more ...
markets under the Time Warner Cable brand. After the dissolution, Comcast obtained the Houston system, and Time Warner retained the others. On January 1, 2007, Comcast officially took control of the Houston system but continued to operate under the Time Warner Cable brand until June 19, 2007.


NBCUniversal

Media outlets began reporting in late September 2009 that Comcast was in talks to buy NBC Universal. Comcast denied the rumors at first, while NBC would not comment on them. However, CNBC itself reported on October 1 that General Electric was considering spinning NBC Universal off into a separate company that would merge the NBC television network and its cable properties such as USA Network, Syfy and MSNBC, as well as Universal Studios, with Comcast's content assets. GE would maintain 49% control of the new company, while Comcast owned 51%. Vivendi, which owns 20%, would have to sell its stake to GE. It was reported that under the current deal with GE that it would happen in November or December. It was also reported that Time Warner would be interested in placing a bid, until CEO
Jeffrey L. Bewkes Jeffrey Lawrence Bewkes (born May 25, 1952) is an American media executive. He was CEO of Time Warner from January 1, 2008 to June 14, 2018, President from December 2005 to June 2018, and Chairman of the Board from January 1, 2009 to 2018. Ear ...
directly denied interest, leaving Comcast the sole bidder. On November 1, 2009, '' The New York Times'' reported Comcast had moved closer to a deal to purchase NBC Universal and that a formal announcement could be made sometime the following week. Following a tentative agreement on December 1, the parties announced that Comcast would buy a controlling 51% stake in NBC Universal, including Universal Pictures, for $6.5 billion in cash and $7.3 billion in programming on December 3. GE would take over the remaining 49% stake in NBC Universal, using $5.8 billion to buy out Vivendi's 20% minority stake in NBC Universal. On January 18, 2011, the FCC approved the deal by a vote of 4 to 1. The transaction was completed on January 28, 2011. In December 2012, Comcast adopted a new corporate logo, which incorporates NBC's peacock logo to signify its ownership of the broadcaster. On February 12, 2013, Comcast announced that it would acquire the remaining 49% of General Electric's interest in NBCUniversal, in a deal valued at approximately $16.7 billion. The acquisition was completed on March 19, 2013. Comcast reported that third-quarter net profits in 2020 fell 37 percent to $2.02 billion from $3.22 billion the previous year, in part due to the limited capacity measures for the COVID-19 pandemic at theme parks like Universal Studios and movie theaters, with revenues falling 4.8 percent. With their theme park in California being closed since March 2020 and limited capacity at locations in Florida and
Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...
, the company was prompted to lay off a number of their employees; revenue for their theme park locations fell 81 percent to $311 million from $1.63 billion in 2019.


Failed purchase of Time Warner Cable

On February 12, 2014, the '' Los Angeles Times'' reported that Comcast sought to acquire Time Warner Cable in a deal valued at $45.2 billion. On February 13, it was reported that Time Warner Cable agreed to the acquisition. This was to add several metropolitan areas to the Comcast portfolio, such as New York City, Los Angeles, Dallas–Fort Worth, Cleveland,
Columbus Columbus is a Latinized version of the Italian surname "''Colombo''". It most commonly refers to: * Christopher Columbus (1451-1506), the Italian explorer * Columbus, Ohio, capital of the U.S. state of Ohio Columbus may also refer to: Places ...
, Cincinnati, Charlotte, San Diego, and San Antonio. Time Warner Cable and Comcast aimed to merge into one company by the end of 2014 and both have praised the deal, emphasizing the increased capabilities of a combined telecommunications network, and to "create operating efficiencies and economies of scale". In 2014, critics expressed concern that the deal would give Comcast greater negotiating power in a number of areas, including rebroadcast fees with television channels, and peering agreements with ISPs. Critics noted in 2013 that Tom Wheeler, the head of the FCC, which has to approve the deal, is the former head of both the largest cable lobbying organization, the National Cable & Telecommunications Association, and as largest wireless lobby, CTIA – The Wireless Association. According to '' Politico'', Comcast "donated to almost every member of Congress who has a hand in regulating it". The
U.S. Senate Judiciary Committee The United States Senate Committee on the Judiciary, informally the Senate Judiciary Committee, is a standing committee of 22 U.S. senators whose role is to oversee the Department of Justice (DOJ), consider executive and judicial nominations ...
held a hearing on the deal on April 9, 2014. The
House Judiciary Committee The U.S. House Committee on the Judiciary, also called the House Judiciary Committee, is a standing committee of the United States House of Representatives. It is charged with overseeing the administration of justice within the federal courts, a ...
planned its own hearing. On March 6, 2014, the United States Department of Justice Antitrust Division confirmed it was investigating the deal. In March 2014, the division's chairman, William Baer, recused himself because he was involved in the prior Comcast NBCUniversal acquisition. Several states' attorneys general have announced support for the federal investigation. On April 24, 2015, Jonathan Sallet, general counsel of the F.C.C., explained that he was going to recommend a hearing before an administrative law judge, equivalent to a collapse of the deal. In August 2015, Comcast announced to speed up Internet for low-income customers from 5 megabits per second (mbps) to 10 Mbit/s, provide free wireless routers, and will pilot an initiative to increase Internet access for low-income senior citizens. In September of that year Comcast also launched Watchable, a YouTube competitor. The move was seen by ''Variety'' as an attempt to appeal to the cord-cutting market.


DreamWorks Animation

In April 2016, Comcast confirmed that its NBCUniversal division would acquire
DreamWorks Animation DreamWorks Animation LLC (DWA, also known as DreamWorks Animation Studios and simply known as DreamWorks) is an American animation studio that produces animated films and television programs and is a subsidiary of Universal Pictures, a division ...
for $3.8 billion. The deal closed on August 22, 2016, as DreamWorks Animation is now operating as a division of the Universal Filmed Entertainment Group. DreamWorks Animation's deal with
20th Century Fox 20th Century Studios, Inc. (previously known as 20th Century Fox) is an American film production company headquartered at the Fox Studio Lot in the Century City area of Los Angeles. As of 2019, it serves as a film production arm of Walt Dis ...
expired, and
Universal Universal is the adjective for universe. Universal may also refer to: Companies * NBCUniversal, a media and entertainment company ** Universal Animation Studios, an American Animation studio, and a subsidiary of NBCUniversal ** Universal TV, a t ...
's distribution deal with DreamWorks Animation debuted with the release of '' How to Train Your Dragon: The Hidden World'' (2019).


Cellular service

In September 2016, Comcast confirmed that it had reached a partnership with Verizon Wireless to launch a
cellular network A cellular network or mobile network is a communication network where the link to and from end nodes is wireless. The network is distributed over land areas called "cells", each served by at least one fixed-location transceiver (typically thre ...
as an MVNO. The new service, described as being a "Wi-Fi and MVNO-integrated product", and was expected to launch in mid-2017. The partnership and the addition of wireless would allow Comcast to offer a quadruple play of services. Including Comcast's Home Security offering, customers now have the option of a Quintuple Play. The service was officially announced on April 6, 2017, as Xfinity Mobile.


Attempted acquisition of Fox and subsequence of Sky

On November 16, 2017, it was reported that Comcast attempted to purchase
21st Century Fox Twenty-First Century Fox, Inc., doing business as 21st Century Fox (21CF), was an American multinational mass media corporation that was based in Midtown Manhattan, New York City. It was one of the two companies formed on June 28, 2013, f ...
, following the news 10 days earlier that The Walt Disney Company negotiated with Fox to acquire the same assets. Like Disney, the deal included the 20th Century Fox film and television studios, cable entertainment and broadcast satellite networks including FX Networks, National Geographic Partners,
Fox Sports Networks Fox Sports Networks (FSN), formerly known as Fox Sports Net, was the collective name for a group of regional sports channels in the United States. Formed in 1996 by News Corporation, the networks were acquired by The Walt Disney Company on Mar ...
, and international channels such as
Star India Disney Star Private Limited is an Indian media conglomerate and a wholly owned subsidiary of The Walt Disney Company India. It is headquartered in Mumbai, Maharashtra. Disney Star network runs more than 70 TV channels in eight languages, reac ...
. It would not include the Fox Broadcasting Company, Fox Television Stations, Fox Sports, and Fox News units, all which will be spun-off into a new independent company, which is later known as the Fox Corporation since the 2019 launch. However, on December 11, 2017, Comcast officially dropped the bid, saying that "We never got the level of engagement needed to make a definitive offer." On December 14, Disney officially confirmed its acquisition of 21st Century Fox for $52.4 billion in stock, pending review from the United States Department of Justice Antitrust Division. On February 5, 2018, a new report by CNBC claims that despite the Disney/Fox deal, Comcast was considering topping Disney's $52.4 billion offer once the AT&TTime Warner merger goes through, after the Department of Justice Antitrust Division sued to block the merger on November 20, 2017. On February 27, 2018, Comcast offered to purchase 61% stake in Sky plc at a value of £12.50 per-share, approximately £22.1 billion. 21st Century Fox, which owns 39% stake in Sky, had previously declined a US$60 billion acquisition offer by Comcast in favor of its deal with Disney, due to anti-competition concerns. NBCUniversal CEO Steve Burke stated that purchasing Sky would roughly double its presence in English-speaking markets, and allow for synergies between the respective networks and studios of NBCUniversal and Sky. Fox stated that it "remains committed to its recommended cash offer for Sky", and that Comcast had not yet made a "firm offer". On April 12, the
Panel on Takeovers and Mergers The Panel on Takeovers and Mergers, or more commonly The Takeover Panel, is the United Kingdom's regulatory body charged with the administration of The Takeover Code. It was set up in 1968 and is located in London, England. Its role is to ensu ...
ruled that Disney had to acquire all of Sky within 28 days of fully acquiring Fox if the latter's acquisition of Sky was not completed by the time the merger was done, or if Comcast's counter-offer wasn't accepted. On April 25, 2018, Comcast made its formal counter-bid for Sky plc, offering £12.50 per-share; Sky subsequently withdrew its recommendation of the Fox bid. On May 7, 2018, Comcast announced a potential bid against Disney's effort to acquire Fox after it spoke to investment banks about making a $60 billion cash offer, pending on approval of the AT&T–Time Warner merger. Eight days later, several Fox investors expressed interests in signing a deal with Comcast due to their all-cash offer as opposed to Disney's $52.4 billion stock offer. Then on June 5, 2018,
Culture Secretary The secretary of state for digital, culture, media and sport, also referred to as the culture secretary, is a secretary of state in the Government of the United Kingdom, with overall responsibility for strategy and policy across the Department f ...
Matt Hancock cleared both 21st Century Fox and Comcast's respective offers to acquire Sky plc. Fox's offer is contingent on the divestiture of Sky News. Eight days later, Comcast officially announced a $65 billion counter-offer to acquire the 21st Century Fox's assets that Disney offered to purchase. On June 15, 2018, the European Commission gave antitrust clearance to Comcast's offer to purchase Sky, citing that in terms of their current assets in Europe, there would be limited impact on competition. Comcast included a 10-year commitment to the operations and funding of Sky News similar to that of Disney's offer. On June 19, 2018, Disney formally agreed to acquire Sky News as part of Fox's proposed bid, with a 15-year commitment to increase its annual funding from £90 million to £100 million. However, on June 20, 2018, Disney and Fox announced that they had amended their previous merger agreement, upping Disney's offer to $71.3 billion (a 10% premium over Comcast's $65 billion offer), while also offering shareholders the option of receiving cash instead of stock. On June 27, the United States Department of Justice gave antitrust approval to Disney under the condition of selling Fox's 22 regional sports channels, to which the company has agreed. On the next day, Disney and Fox shareholders scheduled July 27, 2018 as the day to vote on Fox's properties being sold to Disney, giving Comcast enough time to make a higher counter-offer for the Fox assets. On July 11, 2018, 21st Century Fox raised its bid to purchase Sky plc assets to $32.5 billion, and $18.57 a share. In response, Comcast increased its bid to $34 billion, and $19.5 a share. At the same time, Fox was given clearance by the British government to purchase Sky. On July 18, 2018, ''Bloomberg'' reported that the Sky board scheduled July 27, 2018 as the day shareholders vote on selling Sky properties. However, on July 12, 2018, the Department of Justice filed a notice of appeal with the D.C. Circuit to reverse the District Court's approval for AT&T acquisition of Time Warner (now renamed WarnerMedia). Although analysts say that the chances of the DOJ win are small, they say it is the "final nail in the coffin for Comcast's Fox chase. This is a clear gift to Disney." On the next day, CEO of AT&T Randall Stephenson gave an interview with CNBC, about Comcast's bid for Fox: "It probably can't help it. You're in a situation where two entities are bidding for an asset, and this kind of action can obviously influence the outcome of those actions." On July 16, 2018, CNBC reported that Comcast was unlikely to continue its bidding war to acquire Fox from Disney in favor of
Sky The sky is an unobstructed view upward from the surface of the Earth. It includes the atmosphere and outer space. It may also be considered a place between the ground and outer space, thus distinct from outer space. In the field of astronomy, ...
. Three days later, Comcast officially announced that it was dropping its bid on the Fox assets in order to focus on their bid for Sky. CEO of Comcast, Brian L. Roberts said: "I'd like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company." Eight days later, 21st Century Fox shareholders agreed to sell the majority of its assets to Disney for $71.3 billion. The sale covered the majority of 21CF's entertainment assets, including 20th Century Fox, FX Networks, and National Geographic Partners among others. On September 22, 2018, Comcast outbid 21st Century Fox, by raising its bid for Sky plc to $40 billion, or $22.57 a share. On September 25, 2018, Comcast bought a 30% stake of Sky plc. The next day on September 26, 2018, Fox with the consent of its acquirer sold its 39% stake to Comcast in exchange for $15 billion in cash. In October 2018 Comcast later acquired the rest of the shares of Sky with the company being delisted in November. The merger was completed on November 7, 2018 when the company was delisted after becoming a wholly owned subsidiary and division of Comcast. On June 20, 2022, Comcast acquired Levl, an American-Israeli startup develops technology that authenticates wireless devices and can help prevent hacking, for an estimated $50 million. Following the acquisition, Comcast announced it will set up its first development center in Israel.


Divisions and subsidiaries


Comcast Cable (Xfinity)

Comcast Cable, which goes by the brand name Xfinity, provides cable television, broadband internet, and home telephone services. Comcast Cable also provides similar services to small to medium-sized business through its Comcast Business brand, and Fortune 1000 companies through its Comcast Enterprise brand.


NBCUniversal

Comcast delivers third-party television programming content to its own customers, and also produces its own first-party content both for subscribers and customers of other competing television services. Fully or partially owned Comcast programming includes Comcast Newsmakers, Comcast SportsNet,
SportsNet New York SportsNet New York (SNY) is an American regional sports network owned by Sterling Entertainment Enterprises, LLC, itself a joint venture between the Fred Wilpon (which owns a controlling 65% interest) Sterling Equities, Charter Communications thr ...
, MLB Network, The Golf Channel, Syfy, and USA Network. On May 19, 2009, Disney and ESPN announced an agreement to allow Comcast Corporation to carry the channels
ESPNU ESPNU is an American multinational digital cable and satellite sports television channel owned by ESPN Inc., a joint venture between the Disney Media Networks division of The Walt Disney Company (which owns a controlling 80% stake) and the Hears ...
and
ESPN3 ESPN3 (formerly ESPN360 and ESPN3.com) is an online streaming service owned by ESPN Inc., a joint venture between The Walt Disney Company (which operates the network, through its 80% controlling ownership interest) and Hearst Communications ...
. Comcast's content networks and assets also include E!, Oxygen, Golf Channel, NBCSN, Universal Kids,
Bravo Bravo(s) or The Bravo(s) may refer to: Arts and entertainment Music Groups and labels *Bravo (band), a Russian rock band * Bravo (Spanish group), represented Spain at Eurovision 1984 *Bravo Music, an American concert band music publishing company ...
, and the regional NBC Sports Networks. When Comcast took majority ownership in NBCUniversal, a significant number of cable networks were added to this list. Comcast's NHL deal obligated them to create a U.S. version of NHL Network, launched in October 2007. Comcast has also operated local channels in some markets, such as Comcast Television in the Detroit region, Comcast Network in the Philadelphia and Mid-Atlantic regions (formerly CN8), and Comcast Entertainment Television in Denver and parts of Utah. They primarily carried local programs and sports (including, in some cases, serving as the designated overflow channel for local regional sports networks).


DreamWorks Animation

On August 22, 2016, NBCUniversal bought DreamWorks Animation, along with its major IPs including '' Shrek'', '' How to Train Your Dragon'', '' Kung Fu Panda'', ''
Trolls A troll is a being in Nordic folklore, including Norse mythology. In Old Norse sources, beings described as trolls dwell in isolated areas of rocks, mountains, or caves, live together in small family units, and are rarely helpful to human bei ...
'', and '' Madagascar'' and Big Idea Entertainment owning its famous Christian
computer animated Computer animation is the process used for digitally generating animations. The more general term computer-generated imagery (CGI) encompasses both static scenes (still images) and dynamic images (moving images), while computer animation refer ...
direct-to-video franchise '' VeggieTales''.


Sky Group

Through Sky, Comcast offers any first-party and third-party television programming which using the satellite distribution system to its customers and subscribers across several countries in Europe, such as the United Kingdom, Ireland, Germany, Austria,
Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
, Italy and Spain. It is Europe's largest media company and pay-TV broadcaster by revenue (), with 23 million subscribers and more than 31,000 employees as of 2019. Until November 2018, Sky was owned by 21st Century Fox through a 39.14% controlling stake; on 9 December 2016, following a previous attempt under News Corporation that was affected by the News International phone hacking scandal, 21st Century Fox announced that it had agreed to buy the remainder of Sky, pending government approval. However, after a bidding war that included Disney (which was, in turn, acquiring most of 21st Century Fox assets), Comcast acquired the entirety of Sky in 2018 for £17.28 per-share.


Xumo

Xumo Xumo ( ) is an American over-the-top internet television service owned by Comcast. Founded in 2011, it offers a free ad-supported streaming television (FAST) and advertising video on demand (AVOD) service that primarily offers a selection of pro ...
is a free ad-supported streaming television (FAST) service, which Comcast acquired on February 25, 2020 for an undisclosed amount. The service operates as a business within the Comcast Cable division. Comcast planned to position the service as a compliment to its premium streaming service Peacock (as well as compete with ViacomCBS's Pluto TV and Fox Corporation's Tubi), and leverage its streaming technology, as well as its distribution partnerships with smart TV manufacturers. On October 19, 2021, Comcast announced "XClass TV", a line of smart TVs manufactured by Hisense that would be powered by the X1 software platform used by its cable services. In April 2022, Comcast and Charter Communications announced that they would form a joint venture to form a "next-generation streaming platform", with Comcast contributing its
Xfinity Flex Comcast Cable Communications, LLC, doing business as Xfinity, is an American telecommunications company and division of Comcast Corporation used to market consumer cable television, internet, telephone, and wireless services provided by the com ...
, XClass TV, and Xumo businesses. In November 2022, Comcast and Charter announced that the joint venture would use the Xumo name, with Xfinity Flex, Xumo, and XClassTV rebranded as Xumo Stream Box, Xumo Play, and Xumo TV respectively.


Professional sports

In 1996, Comcast bought a controlling stake in Spectacor from the company's founder,
Ed Snider Edward Malcolm Snider (January 6, 1933 – April 11, 2016) was an American business executive. He was the chairman of Comcast Spectacor, a Philadelphia-based sports and entertainment company that owns the Philadelphia Flyers of the National Hock ...
. Comcast Spectacor holdings now include the Philadelphia Flyers
NHL The National Hockey League (NHL; french: Ligue nationale de hockey—LNH, ) is a professional ice hockey league in North America comprising 32 teams—25 in the United States and 7 in Canada. It is considered to be the top ranked professional ...
hockey team and their home arena in Philadelphia. Over a number of years, Comcast became majority owner of Comcast SportsNet, as well as Golf Channel and NBCSN (formerly the Outdoor Life Network, then Versus). In 2002, Comcast paid the University of Maryland $25 million for naming rights to the new basketball arena built on the College Park campus, the Xfinity Center. Before it was renamed for Comcast's cable subsidiary, Xfinity Center was called Comcast Center from its opening in 2002 through July 2014. Comcast became the sponsor of NASCAR's second-tier series renaming it the
NASCAR Xfinity Series The NASCAR Xfinity Series (NXS) is a stock car racing series organized by NASCAR. It is promoted as NASCAR's second-tier circuit to the organization's top level Cup Series. NXS events are frequently held as a support race on the day prior to a ...
in 2015.


Criticism and controversies

In 2004 and 2007, the American Customer Satisfaction Index (ACSI) survey found that Comcast had the worst customer satisfaction rating of any company or government agency in the country, including the
Internal Revenue Service The Internal Revenue Service (IRS) is the revenue service for the United States federal government, which is responsible for collecting U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory ta ...
. The ACSI indicates that almost half of all cable customers (regardless of company) have registered complaints, and that cable is the only industry to score below 60 in the ACSI. Comcast's Customer Service Rating by the ACSI surveys indicate that the company's customer service has not improved since the surveys began in 2001. Analysis of the surveys states that "Comcast is one of the lowest scoring companies in ACSI. As its customer satisfaction eroded by 7% over the past year, revenue increased by 12%." The ACSI analysis also addresses this contradiction, stating that "Such
pricing power In economics, market power refers to the ability of a firm to influence the price at which it sells a product or service by manipulating either the supply or demand of the product or service to increase economic profit. In other words, market powe ...
usually comes with some level of monopoly protection and most cable companies have little competition at the local level. This also means that a cable company can do well financially even though its customers are not particularly satisfied." In April 2014, Comcast was awarded the 2014 "Worst Company in America" award; an annual contest by the consumer affairs blog ''The Consumerist'' that runs a series of reader polls to determine the least popular company in America. This was the second time Comcast had been awarded this title, the first being in 2010. Comcast spends millions of dollars annually on lobbying. Comcast employs the spouses, sons and daughters of mayors, councilmen, commissioners, and other officials to assure its continued preferred market allocations.''The Washington Post'', ''Md. Lawmakers Call for Probe of Comcast Ties''
Washington Post (March 8, 2006). Retrieved on July 8, 2011.
Law.com, ''Federal Judge Certifies Antitrust Class Against Comcast''
Law.com. Retrieved on July 8, 2011.
Comcast was given an "F" for its corporate governance practices in 2010, by Corporate Library, an independent shareholder-research organization. According to Corporate Library, Comcast's board of directors ability to oversee and control management was severely compromised (at least in 2010) by the fact that several of the directors either worked for the company or had business ties to it (making them susceptible to management pressure), and a third of the directors were over 70 years of age. According to '' The Wall Street Journal'' nearly two thirds of the flights of Comcast's $40 million corporate jet purchased for business travel related to the NBCU acquisition, were to CEO Brian Roberts' private homes or to resorts. On August 1, 2016, Washington State Attorney General Bob Ferguson filed a lawsuit against Comcast Corporation in King County Superior Court, alleging the company's own documents reveal a pattern of illegally deceiving their customers to pad their bottom line by tens of millions of dollars. The FCC issued a $2.3 million fine to Comcast after finding that the company was charging customers for unordered services and equipment. More than a thousand customers issued complaints about these unprecedented charges to their bill. In addition, numerous customers reported inappropriate name-calling and interrogation by customer service representatives. Comcast's executive vice president, David Cohen, admitted the company needed to improve their customer service. On August 8, 2016 an official Comcast employee confirmed that Comcast was changing native 1080i channels to the 720p60 format. "Official Employees are from multiple teams within Comcast: Product, Support, Leadership." In February 2017, Comcast was ordered by the self-regulatory National Advertising Review Board to cease using a claim based on
Speedtest.net } Speedtest.net, also known as Speedtest by Ookla, is a web service that provides free analysis of Internet access performance metrics, such as connection data rate and latency. It is the flagship product of Ookla, a web testing and network diag ...
data that it has "America's fastest internet", stating that "Ookla's data showed only that Xfinity consumers who took advantage of the free tests offered on the Speedtest.net website subscribed to tiers of service with higher download speeds than Verizon FiOS consumers who took advantage of the tests." They were also ordered to stop using a claim that the company offers the "fastest in-home Wi-Fi," which was poorly substantiated. On December 21, 2018, Minnesota State Attorney General Lori Swanson filed a lawsuit against Comcast in Hennepin County over allegations that the company had overcharged customers for cable packages, added home security, service protection plans, modem and other equipment packages to customers bills without their consent, and did not give customers the prepaid 200$ Visa cards they promised to give if customers kept up-to-date on their monthly bills for 90 days on their advertisements. On January 25, 2020, the lawsuit was settled, Comcast being ordered to refund 15,600 customers and give 16,000 other customers debt relief. Comcast was also ordered to disclose the full amounts customers will be charged for using their services on their advertisements. As of fall 2019, Comcast is the last major cable provider or streamer to neglect to carry the
ACC Network ACC Network (ACCN) is an American multinational subscription-television channel owned and operated by ESPN Inc. Dedicated to coverage of the Atlantic Coast Conference, it was announced in July 2016 and launched on August 22, 2019. The channel o ...
, prompting some customers to consider cutting the cord or switching providers.ACC Fans Celebrate: ACC Network is Finally on U-Verse
accessed October 1, 2019
'' Forbes'' magazine criticized the decision not to carry the college sports network as violating a fundamental principle of marketing: "never give your customers a reason to switch." North Carolina Governor Roy Cooper asked Comcast and AT&T to carry the network, after which AT&T did so on their U-Verse cable service. In June 2021, the
Supreme Court A supreme court is the highest court within the hierarchy of courts in most legal jurisdictions. Other descriptions for such courts include court of last resort, apex court, and high (or final) court of appeal. Broadly speaking, the decisions of ...
rejected a petition for review by Comcast regarding an anti-trust lawsuit by
Viamedia, Inc. Viamedia is a cable television and digital advertising company headquartered in Lexington, Kentucky. Viamedia provides advertising sales management for cable TV operators, MVPD's, telcos, OTT/streaming and video providers across the US. Viame ...
after the Biden administration had recommended against review.


Carbon footprint

Comcast reported total CO2e emissions (direct + indirect) for the twelve months ending 31 December 2020 at 2,291 Kt (-249 /-9.8% y-o-y).Alt URL
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Notes


References


External links

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