Comcast: Difference between revisions
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On November 13, 1963, Ralph Roberts purchased American Cable Systems, a small cable TV operator owned by Jerrold Electronics in Tupelo Mississippi for $500,000 after selling his interest in Pioneer Industries. At that time, American Cable Systems has only five channels available for its 1,500 subscribers. Roberts believed that the business has a great potential. After purchasing the company, Roberts encouraged Daniel Aaron, systems director and Julian Brodsky, CPA; both employees from Jerrod Electronics to join him manage the business. According to Roberts, his objective was to bring television to people who couldn’t receive television signals because they are located in areas that were too far from TV stations or they are located in a small market with only one TV station running.<ref>[http://www.fundinguniverse.com/company-histories/Comcast-Corporation-company-History.html Comcast Corporation Company History]</ref> <ref> | On November 13, 1963, Ralph Roberts purchased American Cable Systems, a small cable TV operator owned by Jerrold Electronics in Tupelo Mississippi for $500,000 after selling his interest in Pioneer Industries. At that time, American Cable Systems has only five channels available for its 1,500 subscribers. Roberts believed that the business has a great potential. After purchasing the company, Roberts encouraged Daniel Aaron, systems director and Julian Brodsky, CPA; both employees from Jerrod Electronics to join him manage the business. According to Roberts, his objective was to bring television to people who couldn’t receive television signals because they are located in areas that were too far from TV stations or they are located in a small market with only one TV station running.<ref>[http://www.fundinguniverse.com/company-histories/Comcast-Corporation-company-History.html Comcast Corporation Company History]</ref> <ref> | ||
[http://www.youtube.com/watch?v=ZvvjoDI8O2w Ralph Roberts Interview, Part 1]</ref> | [http://www.youtube.com/watch?v=ZvvjoDI8O2w Ralph Roberts Interview, Part 1]</ref> | ||
In 1969, Roberts re-branded American Cable Systems to Comcast Corporation. The name of the company was coined from the blending of the words communications and broadcast to provide the company with a more technological distinction.<ref>[https://www.corporations.state.pa.us/corp/soskb/SearchResults.asp Pennsylvania Department of State Corporations System Search]</ref> | |||
In 1972, Comcast went public at $7 per share and sold 430,000 shares.<ref> | |||
[http://archive.cablecenter.org/cdm4/item_viewer.php?CISOROOT=/catv&CISOPTR=1215&CISOBOX=1&REC=1 Comcast Goes Public, 1972]</ref> Comcast has a dual share structure with Class A and Class B shares. Only the Class A shares were offered to the public. Each share is equivalent to one vote | |||
Roberts holds Class B shares wherein per share is equivalent to 15 votes. This ensures that he will still control majority votes (80%) of the company even if it went public. Until today, the Roberts family owned Class B shares.<ref> | |||
[http://69.175.2.130/~finman/Reno/Papers/ValueofaVote.pdf The Value of a Vote: Comcast Dual-Voting Rights Stock]</ref> | |||
==Products & Services== | ==Products & Services== | ||
Revision as of 05:14, 3 January 2012
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| Type: | Public |
| Industry: | Telecommunications |
| Founded: | 1963 |
| Founder(s): | Ralph J. Roberts Daniel Aaron Julian A. Brodsky |
| Headquarters: | One Comcast Center Philadelphia, Pennsylvania |
| Country: | USA |
| Employees: | 102,000 [1] |
| Revenue: | $37.937 as of 2010 [2] |
| Website: | www.comcast.com |
| Blog: | Comcast Voices |
| Facebook: | Comcast |
| LinkedIn: | Comcast |
| Twitter: |  @comcast
|
| Key People | |
| Brian L. Roberts, Chairman, President, & CEO | |
Comcast is a media, entertainment and communications provider in the United States. Its primary business involves the operation of cable systems via Comcast Cable which provides video, high-speed internet and telephone services for residential and business establishments. The company also owns a majority share of NBC Universal, owner and operator of entertainment and news cable networks such as the NBC and Telemundo broadcast networks, local TV stations, TV & motion picture production studios and theme parks. The company trades at NASDAQ under the ticker symbols CMCSA and CMCSK. The company's headquarters is located in Philadelphia, PA. Brian L. Roberts serves as Chairman and Chief Executive Officer of Comcast.[3]
History
On November 13, 1963, Ralph Roberts purchased American Cable Systems, a small cable TV operator owned by Jerrold Electronics in Tupelo Mississippi for $500,000 after selling his interest in Pioneer Industries. At that time, American Cable Systems has only five channels available for its 1,500 subscribers. Roberts believed that the business has a great potential. After purchasing the company, Roberts encouraged Daniel Aaron, systems director and Julian Brodsky, CPA; both employees from Jerrod Electronics to join him manage the business. According to Roberts, his objective was to bring television to people who couldn’t receive television signals because they are located in areas that were too far from TV stations or they are located in a small market with only one TV station running.[4] [5]
In 1969, Roberts re-branded American Cable Systems to Comcast Corporation. The name of the company was coined from the blending of the words communications and broadcast to provide the company with a more technological distinction.[6]
In 1972, Comcast went public at $7 per share and sold 430,000 shares.[7] Comcast has a dual share structure with Class A and Class B shares. Only the Class A shares were offered to the public. Each share is equivalent to one vote Roberts holds Class B shares wherein per share is equivalent to 15 votes. This ensures that he will still control majority votes (80%) of the company even if it went public. Until today, the Roberts family owned Class B shares.[8]
Products & Services
The company offers the following products to consumers:[9]
- Xfinity TV
- Xfinity Internet
- Xfinity Voice
- Comcast Business Class
- Comcast Interactive Media
- Comcast Spotlight