|founding||1963 in Tupelo , Mississippi|
|Seat||Philadelphia , United States|
|management||Brian L. Roberts ( CEO & Chairman)|
|Number of employees||190,000 (2019)|
|sales||$ 108.9 billion (2019)|
|Branch||Cable operator , internet provider|
|As of January 30, 2020|
The Comcast Corporation is the largest cable operator , according to AT & T 's second-largest Internet service provider, and after AT & T and Verizon Communications , the third largest phone company in the United States . In the annual ranking of the largest international media corporations by the Institute for Media and Communication Policy, Comcast ranks first with 2015 sales of US $ 51.8 billion. Comcast currently offers its services in 39 states and the District of Columbia . Is the seat of Comcast in Philadelphia ( Pennsylvania , USA ) in the Comcast Center .
At the Forbes Global 2000, Comcast ranks 27th (as of 2020).
American Cable Systems Inc.
American Cable Systems Inc. was founded on June 28, 1963 by Ralph J. Roberts , Daniel Aaron and Julian A. Brodsky in Tupelo ( Mississippi ). American Cable Systems Inc. acquired Community Antenna Television Services (CATV) from Jerrold Electronics Company . Community Antenna Television Services was one of the few providers in the United States to offer cable television in rural areas . In the years that followed, American Cable System Inc. took over a number of other franchises in eastern Mississippi . With the takeover of Westmoreland cable system , American Cable System expanded its catchment area to western Pennsylvania. A joint venture with the Philadelphia Bulletin was established in 1966 to set up cable systems in Sarasota and Venice , both in Florida .
Since the name American Cable Systems Inc. sounds too static and not like a fast growing company, Ralph J. Roberts looked for a suitable new name. This he found in the portmanteau Comcast , composed of the two words Com munication and Broad cast . On March 5, 1969, the Comcast Corporation was re-established in Philadelphia . The company's headquarters were relocated to Bala Cynwyd .
Group W Cable
The first major acquisition, together with Century Communications Corp. , American Television & Communications Corp. (Subsidiary of Time Inc. ) and Tele-Communications Inc. (TCI, subsidiary of AT&T), was the cable television division Group W Cable of Westinghouse Electric Corp. in 1986 for $ 1.7 billion. The acquisition was preceded by a bidding process that was hoped to raise between $ 2.4 billion and $ 2.8 billion for Group W Cable. Group W Cable has a reach of 2.1 million users. The Chicago cable TV network and Group W Satellite were not affected by the takeover. Comcast had a 25% stake in this consortium . Group W Cable was dissolved on October 9, 1986. With the completion of the takeover, the number of Comcast customers grew to over a million.
American Cellular Network Corp.
On February 11, 1988, Comcast announced that American Cellular Network Corp. for $ 230 million. American Cellular Networks operates cellular networks in New Jersey , Delaware, and Maryland . This was Comcast's entry into the cellular space. In 1991, American Cellular Network acquired the Philadelphia area cellular operations from the Metromedia Company .
Storer Communications Inc.
In 1987, just under two years after taking over Group W Cable , Comcast tried to join forces with American Television & Communications Corp. and Taft Cable Partners (joint venture between Tele-Communication Inc. and investor Robert M. Bass ) to acquire SCI Holdings Inc. (formerly Storer Communications Inc. owned by KKR ) for $ 2.9 billion. SCI Holdings Inc. had 1.4 million users. Due to internal differences between the partners, the takeover was canceled.
In April 1988, Comcast and TCI offered SCI Holdings Inc. $ 1.55 billion.
1995 Comcast took over with TCI (through the subsidiary Liberty Media ) the remaining shares of Time Warner in the sales channel QVC for 200 million US dollar. Thus Comcast held 57.4% and TCI 42.6% in QVC. Comcast took over the management of the company.
In 2002 Liberty Media began negotiating the shares in QVC with Comcast. In 2003, Liberty Media took over Comcast's 57.4% stake for $ 7.9 billion. With the takeover, Liberty Media holds 98% of QVC, the rest is held by management. The bid came at a time when Comcast needed money to acquire AT & T's cable television division.
In December 2001, Comcast won the bidding war with AOL Time Warner and Cox Communications for AT & T's cable television division . The acquisition was valued at $ 72 billion, $ 47 billion in 1.235 billion new shares for AT&T shareholders, cable television debt of $ 20 billion and a convertible bond of $ 5 billion, which the Microsoft Corporation held. The shareholders of AT&T have a stake of 53% and Comcast of 47% in the newly formed company. A pension fund was set up for the former AT&T employees . Upon completion of the acquisition, Comcast was renamed AT&T Comcast . As a condition for the approval of the merger by the FCC, AT&T Comcast had to hold the shares in Time Warner Cable in trust and sell them within five and a half years.
The newly created AT&T Comcast had a market share of 29% in pay TV and 27 million customers in 41 states.
Together with TimeWarner (for TimeWarner this is the largest takeover since the takeover of AOL ) Comcast offered for the cable provider Adelphia, which has been insolvent since 2002 and operates under Chapter 11 . The 2002 bankruptcy of Adelphia was the seventh largest in US history. Adelphia was a cable operator in 31 states.
The bid was $ 18 billion. At the same time, Comcast was also able to meet the requirements from the merger with the cable division of AT&T by selling the stake in Time Warner Cable to Time Warner Entertainment. The takeover happened very quickly. Success was reported less than two weeks after the takeover was announced. Time Warner and Comcast jointly offered $ 17.6 billion ($ 12.7 billion in cash, $ 4.9 billion in stocks).
Despite the quick agreement, it took until 2007 for the takeover and the split of Adelphia to be completed by Time Warner Cable and Comcast. The acquisition increased Comcast's customer base from 21.4 million cable users to 23 million.
In 2005 it was announced that Comcast would become the anchor tenant of the Comcast Center in Philadelphia, planned by Liberty Property Trust and Commerz Leasing since 2001 and under construction from 2005 .
The building was designed by Robert AM Stern . Comcast is renting more than 90% of the office space for 15.5 years. From the Comcast Center there is direct access to Suburban Station , which is served by SEPTA with over 30 lines .
A few weeks before the announcement of the partnership between Plaxo and Comcast, the SmartZone cloud application was launched. Comcast customers can call up their centrally stored data, such as email and address book, from any device. The partnership was announced on May 7, 2007.
Just a year later, Comcast announced that Plaxo would be acquired for $ 150 to 170 million.
In early December 2009, Comcast acquired a 51 percent stake in NBCUniversal for around $ 14 billion (6.5 billion in cash; cable channels were valued at $ 7.25 billion) , while the remainder was in General Electric Corporation remained. The majority acquisition of NBCUniversal was approved by the Federal Communications Commission (FCC) on January 18, 2011 . On January 28, 2011, the takeover was implemented and Comcast took over management. At the same time the cable channels from the Comcast Corporation to the new NBC Universal LLC. transfer.
With the takeover of NBC Universal, Comcast gains access to the 32% share in the video portal Hulu . As a requirement of the Federal Communications Commission, Comcast is not allowed to intervene directly in the management of Hulu. Since Comcast regards Hulu as a strategic investment, management was transferred to the other two shareholders.
On February 12, 2013 Comcast announced that it would also take over the remaining 49 percent of NBC Universal's shares from General Electric. The agreed price for this is around 16.7 billion US dollars, of which 11.4 billion in cash. The deal should be completed by the end of the first quarter of 2013. The takeover was completed on March 19, 2013.
Abandoned acquisition of Time Warner Cable
In February 2014, Comcast announced its intention to take over the competing cable operator Time Warner Cable , which is the second largest operator in the USA behind the market leader Comcast in terms of customer numbers. The purchase price of around 45 billion US dollars was to be paid in the form of shares. The takeover would have created by far the largest cable network operator in the USA with over 30 million customers, who not only offers cable television but also Internet connections. Because of the immense market power of the merged group, which also functions as a media company in the form of NBCUniversal , the takeover was criticized from various sides in the USA. Ultimately, Comcast abandoned the takeover due to opposition from the antitrust authorities.
Acquisition of Sky plc.
In September 2018 it was announced that Comcast was taking over the Sky group . The takeover took place in October 2018.
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Network Neutrality Controversy
In 2007, Comcast took measures to distort the network and, with the help of Sandvine, sent hardware forged TCP-RST (reset) packets, which disrupted various peer-to-peer protocols from file sharing services. Particularly affected was BitTorrent . This led to an extensive disruption of the BitTorrent transmission processes for Comcast users. This practice had to be officially abandoned at the end of 2008 following a court order.
Tutanota's German co-founder Mathias Pfau claims that his email service was unavailable to Comcast customers for around 18 hours between March 1 and March 2, 2018. He says, "This blocking - malicious or random - shows the power Internet service providers have over our online experience, and it's shocking."
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