Changes

==Company Expansion==

==Company Expansion==

The following years, Comcast acquired several cable franchises in different locations including Paducah, Kentucky; Flint, Hillsdale and Jonesville, Warren, Clinton, Sterling Heights and St. Clair Shores in Michigan; Northern New Jersey; Lower Merion, Pennsylvania; and Corinth, Mississippi. The company also acquired the Muzak franchises in Indianapolis, Buffalo, Scranton, Pennsylvania, and Peoria, Illinois in 1983. During the same year, Comcast expanded in United Kingdom through its partnership with Ladboke, a gambling and entertainment company. Comcast secured a license to provide cable television systems to residents in suburban London.<ref>[http://www.fundinguniverse.com/company-histories/Comcast-Corporation-company-History.html Comcast Corporation Company History]</ref>

The following years, Comcast acquired several cable franchises in different locations including Paducah, Kentucky; Flint, Hillsdale and Jonesville, Warren, Clinton, Sterling Heights and St. Clair Shores in Michigan; Northern New Jersey; Lower Merion, Pennsylvania; and Corinth, Mississippi. The company also acquired the Muzak franchises in Indianapolis, Buffalo, Scranton, Pennsylvania, and Peoria, Illinois in 1983. During the same year, Comcast expanded in the United Kingdom through its partnership with Ladboke, a gambling and entertainment company. Comcast secured a license to provide cable television systems to residents in suburban London.<ref>[http://www.fundinguniverse.com/company-histories/Comcast-Corporation-company-History.html Comcast Corporation Company History]</ref>

In 1986, the company acquired 26 percent of Group W. This acquisition doubled the company's cable subscribers to 1.2 million and provided founding investments for QVC, a television home shopping company. In 1988, the company purchased 50 percent stakes Storer Communications, Inc. The company became the fifth largest cable systems operator in the United States with more than 2 million subscribers. During the same year, the company also acquired American Cellular Network Corporation (AMCELL).<ref>[http://www.pressnews.net/cmcsk/history.htm Comcast History at a Glance]</ref>

In 1986, the company acquired 26% of Group W, which doubled the company's cable subscribers to 1.2 million and provided the founding investments for QVC, a television home shopping company. In 1988, the company purchased 50 percent stakes in Storer Communications, Inc, growing Comcast into the fifth largest cable systems operator in the United States with more than 2 million subscribers. That same year, the company also acquired American Cellular Network Corporation (AMCELL).<ref>[http://www.pressnews.net/cmcsk/history.htm Comcast History at a Glance]</ref>

In 1990, Ralph Roberts named his son Brian Roberts as President of the Company while he remain as the company's Chairman. The company also bought additional franchises in London which enabled the company to provide cable services in Cambridge and Birmingham and increased its subscribers in UK to one million. By 1993, the company's Amcell and Metropone customers reached more than 7.3 million customers.<ref>

In 1990, Ralph Roberts named his son [[Brian Roberts]] as President of the Company, though he remain as the company's Chairman. The company also bought additional franchises in London, enabling Comcast to provide cable services in Cambridge and Birmingham, which increased its subscribers in UK to one million. By 1993, the company's Amcell and Metropone customers reached more than 7.3 million customers.<ref>

[http://books.google.com/books?id=rPFpyrUuaUsC&pg=PA121&lpg=PA121&dq=Comcast+Purchased+Amcell&source=bl&ots=BO-UwPIdC7&sig=-b4fcPuLk5unQk59N7CTPMaM-n4&hl=en&sa=X&ei=8pgCT8eAMaGdiAK2nLWxDg&ved=0CFkQ6AEwBg#v=onepage&q=Comcast%20Purchased%20Amcell&f=false Into the Value Zone:Gaining and Sustaining Competitive Advantage]</ref>

[http://books.google.com/books?id=rPFpyrUuaUsC&pg=PA121&lpg=PA121&dq=Comcast+Purchased+Amcell&source=bl&ots=BO-UwPIdC7&sig=-b4fcPuLk5unQk59N7CTPMaM-n4&hl=en&sa=X&ei=8pgCT8eAMaGdiAK2nLWxDg&ved=0CFkQ6AEwBg#v=onepage&q=Comcast%20Purchased%20Amcell&f=false Into the Value Zone:Gaining and Sustaining Competitive Advantage]</ref>

In 1995, the company purchased 57.45% stakes of QVC valued at $46 per share. The company assumed the management of the company.<ref>[http://apps.shareholder.com/sec/viewerContent.aspx?companyid=CMCSA&docid=647703 Comcast Corporation Form 8-K Current Report, February 9, 1995]</ref> The following year 1996, Comcast acquired E.W. Scripps Company with 93.049 million shares of Class A Special Common Stocks valued at $1.552 billion.<ref>

In 1995, the company purchased 57.45% stakes of QVC valued at $46 per share and assumed the management of the company.<ref>[http://apps.shareholder.com/sec/viewerContent.aspx?companyid=CMCSA&docid=647703 Comcast Corporation Form 8-K Current Report, February 9, 1995]</ref> The following year 1996, Comcast acquired E.W. Scripps Company with 93.049 million shares of Class A Special Common Stocks valued at $1.552 billion.<ref>

[http://apps.shareholder.com/sec/viewerContent.aspx?companyid=CMCSA&docid=842734 Comcast Corporation Form 8-K Current Report November 13, 1996]</ref> During the same year, the company engaged in a sports venture and launched Comcast-Spectator after purchasing NHL Philadelphia Flyers, the NBA Philadelphia 76ers, the First Union Spectrum and the First Union Center. The company also created the Comcast SportsNet Channel. In addition, the company also entered in the broadband business after acquiring Sarasota Online, the largest internet provider in Florida owned by Richard Swier.<ref>[http://homeinternetproviders.org/comcast/ Home Internet Providers, Comcast History]</ref>

[http://apps.shareholder.com/sec/viewerContent.aspx?companyid=CMCSA&docid=842734 Comcast Corporation Form 8-K Current Report November 13, 1996]</ref> During the same year, the company engaged in a sports venture and launched Comcast-Spectator after purchasing NHL Philadelphia Flyers, the NBA Philadelphia 76ers, the First Union Spectrum, and the First Union Center. The company also created the Comcast SportsNet Channel. In addition, Comcast also entered in the broadband business after acquiring Sarasota Online, the largest internet provider in Florida.<ref>[http://homeinternetproviders.org/comcast/ Home Internet Providers, Comcast History]</ref>

On March 22, 1999, Comcast announced entered a $60 billion merger transaction with [[MediaOne Group Inc.]]. The combined company's capitalization was valued at approximately $97 billion and it will become one of the largest broadband networks in the United States with 8 clusters with more than 500,000 costumers per cluster and it will also serve more than 11 million cable subscribers.<ref>[http://www.comcast.com/about/pressrelease/pressreleasedetail.ashx?prid=512&SCRedirect=true Comcast and MediaOne Announce $60 Billion Merger]</ref> However, MediaOne terminated the merger agreement and paid Comcast $1.5 billion termination fee.<ref>[http://www.thefreelibrary.com/Comcast-MediaOne+Merger+Agreement+Terminated%3B+Comcast+Receives+$1.5...-a054565101 Comcast-MediaOne Merger Agreement Terminated; Comcast Receives $1.5 Billion Termination Fee]</ref>

On March 22, 1999, Comcast announced that it had entered a $60 billion merger transaction with [[MediaOne Group Inc.]] The combined company's capitalization was valued at approximately $97 billion, which would have made it one of the largest broadband networks in the United States with 8 clusters at more than 500,000 costumers per cluster, and with more than 11 million cable subscribers.<ref>[http://www.comcast.com/about/pressrelease/pressreleasedetail.ashx?prid=512&SCRedirect=true Comcast and MediaOne Announce $60 Billion Merger]</ref> However, MediaOne terminated the merger agreement and paid Comcast a $1.5 billion termination fee.<ref>[http://www.thefreelibrary.com/Comcast-MediaOne+Merger+Agreement+Terminated%3B+Comcast+Receives+$1.5...-a054565101 Comcast-MediaOne Merger Agreement Terminated; Comcast Receives $1.5 Billion Termination Fee]</ref>

On November 18 2002, Comcast acquired [[AT&T]] Cable for $47 billion in stocks and assumed the company's $25 billion debt. The combined company was named AT&T Comcast Corporation. Comcast President Brian Roberts assumed the position of the CEO while AT&Ts CEO Michael Armstrong became the Chairman of the new company with an estimated 22 million subscribers. The projected annual revenue was $19 billion.<ref>[[http://money.cnn.com/2001/12/19/deals/att/ Comcast wins AT&T cable]</ref> <ref>[http://www.cmcsk.com/faq.cfm Comcast Investor Relations FAQS]</ref>

On November 18, 2002, Comcast acquired [[AT&T]] Cable for $47 billion in stocks and assumed the company's $25 billion debt. The combined company was named AT&T Comcast Corporation. Comcast President Brian Roberts assumed the position of CEO, while AT&T's CEO [[Michael Armstrong]] became the Chairman of the new company. They had an estimated 22 million subscribers with a projected annual revenue was $19 billion.<ref>[[http://money.cnn.com/2001/12/19/deals/att/ Comcast wins AT&T cable]</ref><ref>[http://www.cmcsk.com/faq.cfm Comcast Investor Relations FAQS]</ref>

In 2005, Comcast joined a group of investor that acquired Metro-Goldwyn-Mayer Inc. (MGM), an independent and privately-owned motion picture, television, home video, and theatrical production and distribution company.<ref>[http://www.sony.com/SCA/press/050408.shtml ACQUISITION OF METRO-GOLDWYN-MAYER COMPLETED]</ref>

In 2005, Comcast joined a group of investors that acquired Metro-Goldwyn-Mayer Inc. (MGM), an independent and privately-owned motion picture, television, home video, and theatrical production and distribution company.<ref>[http://www.sony.com/SCA/press/050408.shtml ACQUISITION OF METRO-GOLDWYN-MAYER COMPLETED]</ref>

In 2006, Comcast entered into a long-term distribution agreement with Walt Disney's Media Networks and Services including some of ABC's primetime series. The company also acquired Walt Disney's 39.5 stake ($1.2 billion) in E! Networks. Comcast became the sole owner of E! Networks.<ref>[http://www.comcast.com/about/pressrelease/pressreleasedetail.ashx?SCRedirect=true&PRID=24 Comcast And The Walt Disney Company Announce Long-Term Comprehensive Distribution Agreements Securing Carriage for Disney Media Networks’ Products and Services]</ref>

In 2006, Comcast entered into a long-term distribution agreement with Walt Disney's Media Networks and Services, including some of ABC's primetime series. The company also acquired Walt Disney's 39.5 stake ($1.2 billion) in E! Networks, making it the sole owner of E! Networks.<ref>[http://www.comcast.com/about/pressrelease/pressreleasedetail.ashx?SCRedirect=true&PRID=24 Comcast And The Walt Disney Company Announce Long-Term Comprehensive Distribution Agreements Securing Carriage for Disney Media Networks’ Products and Services]</ref>

In 2011, the Federal Communications Commission ([[FCC]]) approved the joint venture between Comcast and GE with certain conditions.Under the terms of the merger agreement, Comcast paid GE $13.8 billion to form NBC Universal LLC., wherein 51% percent of newly formed company is owned by Comcast and the remaining 49% is owned by GE. The operations of NBC Universal will be managed by Comcast excluding the Hulu Online Video Services since the management of the service is shared by NBC with News Corp. and Walt Disney Co. Comcast will not interfere with subscribers web traffic and it will share the NBC programming with its competitors and to provide more high-speed internet to communities wit limited access.<ref>[http://www.bloomberg.com/news/2011-01-18/comcast-nbc-universal-deal-said-to-be-near-u-s-fcc-approval.html Comcast Wins U.S. Approval to Buy NBC Universal From GE for $13.8 Billion]</ref> <ref>

In 2011, the Federal Communications Commission ([[FCC]]) approved the joint venture between Comcast and GE under certain conditions. According the terms of the merger agreement, Comcast paid GE $13.8 billion to form NBC Universal LLC., wherein 51% percent of newly formed company would be owned by Comcast and the remaining 49% would be owned by GE. The operations of NBC Universal would be managed by Comcast, excluding the Hulu Online Video Services, as the management of that service was shared by NBC with News Corp. and Walt Disney Co. Comcast was not interfere with subscribers' web traffic and agreed to share NBC programming with its competitors and to provide more high-speed internet to communities with limited access.<ref>[http://www.bloomberg.com/news/2011-01-18/comcast-nbc-universal-deal-said-to-be-near-u-s-fcc-approval.html Comcast Wins U.S. Approval to Buy NBC Universal From GE for $13.8 Billion]</ref><ref>

[http://www.comcast.com/about/pressrelease/pressreleasedetail.ashx?SCRedirect=true&PRID=1038 Comcast and GE Complete Transaction to Form NBCUniversal, LLC]</ref>

[http://www.comcast.com/about/pressrelease/pressreleasedetail.ashx?SCRedirect=true&PRID=1038 Comcast and GE Complete Transaction to Form NBCUniversal, LLC]</ref>