Comcast

Comcast Corporation (simply known as Comcast, and formerly known as American Cable Systems and Comcast Holdings, stylized in all caps as COMCAST), incorporated and headquartered in Philadelphia, is the largest American multinational telecommunications and media conglomerate. The corporation is the second-largest broadcasting and cable television company in the world by revenue (behind AT&T). It is the third-largest pay-TV company, the second-largest cable TV company by subscribers, and the largest home Internet service provider in the United States. Comcast is additionally 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. As the owner of the international media company NBCUniversal since 2011, Comcast is also a high-volume producer of feature films for theatrical exhibition and television programming, and a theme park operator.

Comcast Corporation
Comcast
Formerly
  • American Cable Systems
    (1963โ€“1968)
  • Comcast Holdings
    (1968โ€“2000)
Company typePublic
Industry
FoundedJune 28, 1963 (1963-06-28)
Tupelo, Mississippi, U.S.
FounderRalph J. Roberts
HeadquartersComcast Center, ,
U.S.
Area served
Worldwide
Key people
Revenue US$121.6 billion (2023)
US$23.31 billion (2023)
US$15.11 billion (2023)
Total assets US$264.8 billion (2023)
Total equity US$83.23 billion (2023)
OwnerBrian L. Roberts (1% equity interest, 33% voting power)
Number of employees
186,000 (2023)
Divisions
Subsidiaries
ASN
  • 7922
Websitecorporate.comcast.com
Footnotes / references

Comcast owns and operates the Xfinity residential cable communications business segment and division; Comcast Business, a commercial services provider; and Xfinity Mobile, an MVNO of Verizon. Through NBCUniversal, it also owns and operates over-the-air national broadcast network channels such as NBC, Telemundo, TeleXitos, and Cozi TV; multiple cable-only channels such as MSNBC, CNBC, USA Network, Syfy, Oxygen, Bravo, and E!; the film studio Universal Pictures; the VOD streaming service Peacock; animation studios DreamWorks Animation, Illumination, and Universal Animation Studios; and Universal Destinations & Experiences. It also has significant holdings in digital distribution, such as thePlatform, which it acquired in 2006; and ad-tech company FreeWheel, which it acquired in 2014. Since October 2018, it has also been the parent company of Sky Group.

Comcast has been criticized and put under intense public scrutiny for a variety of reasons. Its customer satisfaction ratings were among the lowest in the cable industry during the years 2008โ€“2010. 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. 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 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.

Evolution of Comcast NBCUniversal
1912Universal Pictures is founded
1926NBC is founded
1953NBC begins first compatible color broadcasts, preceding other networks by nine years
1956NBC's peacock logo debuts
1963American Cable Systems is founded
1967NBC broadcasts the first-ever Super Bowl
1968American Cable Systems rebrands to Comcast
1975Universal releases Jaws
1982Universal releases E.T. The Extra Terrestrial
1972Comcast began trading on the New York Stock Exchange (NYSE)
1985Universal's Back to the Future premieres
1986General Electric buys NBC for $6.4 billion
1989NBC launches CNBC
1990Universal Studios Florida opens
1993Universal's Jurassic Park premieres
1996NBC and Microsoft launch MSNBC
1999Universal Studios Florida expands to become Universal Orlando Resort
2001Grand opening of Universal Studios Japan and Universal's The Fast and the Furious premieres
2002NBC acquires Telemundo and Bravo
Focus Features is formed
Comcast acquires AT&T Broadband for $44.5 billion
2003Universal becomes the first studio with five summer releases breaking the $100 million mark
2004GE and Vivendi merge NBC and Universal into NBCUniversal
2005Comcast and Time Warner Cable acquire Adelphia Cable assets for $17.6 billion
2006USA Network begins 13-year streak as #1 cable network in total viewers
2007Illumination Entertainment is founded
2010Illumination's Despicable Me premieres
2011Vivendi divested in NBCU; Comcast buys 51% of NBCU from GE, turning it into a limited liability company
2013Comcast buys GE's remaining 49% of NBCU
2014Comcast attempts to acquire Time Warner Cable for $45.2 billion
NBCUniversal reaches a new long-term deal with WWE
2016NBCU acquires DreamWorks Animation
2018Comcast acquires Sky
2020NBCU launches Peacook
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