Business Analysis of Comcast Corporation Essay -- Comcast Business Mar

Business Analysis of Comcast Corporation Comcast Corporation, based in Philadelphia, Pennsylvania, is the largest cable company in the United States. Comcast develops broadband cable networks and are involved in electronic retailing and television programming content. Comcast was founded in 1963 by Ralph J. Roberts, Daniel Aaron, and Julian A. Brodsky in Tupelo, Mississippi. Entrepreneurs who transformed Comcast from a small cable company to a massive corporation that employs over 68,000 people. Of course, with mergers as well as buying other companies, they were taking a great risk. Their risk taking has been a proven success. The company was incorporated in Pennsylvania in 1969 under the name Comcast Corporation from American Cable Systems. Over the next 30 years, Comcast grows to become the well-known company it is today. Moving into the area of programming content, Comcast became majority owner of Comcast-Spectacor, Comcast SportsNet (In Chicago, Philadelphia, and Washington/Baltimore area), and E! Entertainment Television and Style Network, G4, The Golf Channel and the Outdoor Life Network over a period of years. The UK division was sold to NTL (National Transcommunications Limited) in 1998, a European cable/cellular company. After the sale of their cellular division to SBC Communications of San Antonio and the acquisition of Greater Philadelphia Cablevision in 1999, Comcast and MediaOne announced a $60 billion merger, which occurred three years later. In 2001, Comcast announced they would acquire the assets of AT&T Broadband (AT&T’s cable TV service). In 2002 Comcast acquired all assets of AT&T Broadband, thus making Comcast the largest cable television company in the United States. In 2002, Comcast paid the University of Maryland an undisclosed amount for naming rights to the new basketball arena built on the campus, named Comcast Center. In staying competitive with other companies, Comcast has always tried to have the advantage by offering the latest technology. In 2001, Comcast launched HDTV (High Definition Television). HDTV is a form that provides crystal-clear quality wide-screen pictures with compact disc-quality surround sound. The aspect ratio of HDTV pictures is 16:9 as opposed to today’s 4:3 format. Comcast also launched Video-On-Demand service (VOD) in 2001. VOD, which is now simply called On Demand, allows one to play news, TV progra... ...t losses of affiliates (22) (27) (88) (60) Other income 312 11 394 71 74 (132) (1,098) (2,091) Income (Loss) from Continuing Operations before Income Taxes and Minority Interest 785 610 1,810 (137) Income tax (expense) benefit (360) (215) (826) 16 Income (Loss) from Continuing Operations Before Minority Interest 425 395 984 (121) Minority interest (2) (12) (14) (97) Income (Loss) from Continuing Operations 423 383 970 (218) Income from discontinued operations, net of tax (1) - - - 168 Gain on discontinued operations, net of tax (1) - - - 3,290 Net Income $423 $383 $970 $3,240 Diluted earnings (loss) per common share Income (loss) from continuing operations $0.19 $0.17 $0.43 ($0.10) Income from discontinued operations - - - 0.08 Gain on discontinued operations - - - 1.46 Net Income per common share $0.19 $0.17 $0.43 $1.44 Diluted weighted average number of common shares outstanding 2,228 2,269 2,250 2,256 1) On September 17, 2003, the Company completed the sale of its approximate 57% interest in QVC, Inc. Accordingly, the results of QVC are presented as discontinued operations. REFERENCE Comcast Website – www.comcast.net Business Analysis of Comcast Corporation Essay -- Comcast Business Mar Business Analysis of Comcast Corporation Comcast Corporation, based in Philadelphia, Pennsylvania, is the largest cable company in the United States. Comcast develops broadband cable networks and are involved in electronic retailing and television programming content. Comcast was founded in 1963 by Ralph J. Roberts, Daniel Aaron, and Julian A. Brodsky in Tupelo, Mississippi. Entrepreneurs who transformed Comcast from a small cable company to a massive corporation that employs over 68,000 people. Of course, with mergers as well as buying other companies, they were taking a great risk. Their risk taking has been a proven success. The company was incorporated in Pennsylvania in 1969 under the name Comcast Corporation from American Cable Systems. Over the next 30 years, Comcast grows to become the well-known company it is today. Moving into the area of programming content, Comcast became majority owner of Comcast-Spectacor, Comcast SportsNet (In Chicago, Philadelphia, and Washington/Baltimore area), and E! Entertainment Television and Style Network, G4, The Golf Channel and the Outdoor Life Network over a period of years. The UK division was sold to NTL (National Transcommunications Limited) in 1998, a European cable/cellular company. After the sale of their cellular division to SBC Communications of San Antonio and the acquisition of Greater Philadelphia Cablevision in 1999, Comcast and MediaOne announced a $60 billion merger, which occurred three years later. In 2001, Comcast announced they would acquire the assets of AT&T Broadband (AT&T’s cable TV service). In 2002 Comcast acquired all assets of AT&T Broadband, thus making Comcast the largest cable television company in the United States. In 2002, Comcast paid the University of Maryland an undisclosed amount for naming rights to the new basketball arena built on the campus, named Comcast Center. In staying competitive with other companies, Comcast has always tried to have the advantage by offering the latest technology. In 2001, Comcast launched HDTV (High Definition Television). HDTV is a form that provides crystal-clear quality wide-screen pictures with compact disc-quality surround sound. The aspect ratio of HDTV pictures is 16:9 as opposed to today’s 4:3 format. Comcast also launched Video-On-Demand service (VOD) in 2001. VOD, which is now simply called On Demand, allows one to play news, TV progra... ...t losses of affiliates (22) (27) (88) (60) Other income 312 11 394 71 74 (132) (1,098) (2,091) Income (Loss) from Continuing Operations before Income Taxes and Minority Interest 785 610 1,810 (137) Income tax (expense) benefit (360) (215) (826) 16 Income (Loss) from Continuing Operations Before Minority Interest 425 395 984 (121) Minority interest (2) (12) (14) (97) Income (Loss) from Continuing Operations 423 383 970 (218) Income from discontinued operations, net of tax (1) - - - 168 Gain on discontinued operations, net of tax (1) - - - 3,290 Net Income $423 $383 $970 $3,240 Diluted earnings (loss) per common share Income (loss) from continuing operations $0.19 $0.17 $0.43 ($0.10) Income from discontinued operations - - - 0.08 Gain on discontinued operations - - - 1.46 Net Income per common share $0.19 $0.17 $0.43 $1.44 Diluted weighted average number of common shares outstanding 2,228 2,269 2,250 2,256 1) On September 17, 2003, the Company completed the sale of its approximate 57% interest in QVC, Inc. Accordingly, the results of QVC are presented as discontinued operations. REFERENCE Comcast Website – www.comcast.net