A Brief History Of Comcast Cable

Founded in 1963 in the city of Tupelo, Mississippi, Comcast Corporation (known as Comcast) develops, manages, and operates broadband cable networks and communications systems. The largest cable provider, with over twenty-two million subscribers to date, commerce plus broadcasting equals Comcast. Comcast brings in 95% of its revenue and offers cable TV, high-speed Internet and voice services. Comcast is majority owner of Comcast-Spectator, Comcast SportsNet, and E! Entertainment Television, the Style Network, G4, the Golf Channel, QVC, and the Outdoor Life Network. The UK division of the company was sold in 1998 to NTL, and the cellular division of the company was sold to SBC communications in 1999. Merged with Media One in a $60 billion merger, Comcast employs 68,000 people. Comcast stock price can be found by searching the NASDAQ market, where it has been traded since 1972, with shares being currently offered under the ticker symbols CMCSA and CMCSK. Comcast stock price has been on a steady decline since March of 2005. However, the company anticipates a profit by the end of the year, as they consider the launch of a sports cable network to rival ESPN, owned by the Walt Disney Company, a company that Comcast attempted, but failed to purchase in the last year. Comcast is reported to be in negotiations with many major sports leagues, including the National Football League, National Hockey League, and NASCAR, among others, in order to help boost ratings

for their Outdoor Life Network. The company owns four regional sports channels, and holds majority ownership in two pro sports teams in Philadelphia. With their finger in every piece of the multimedia pie, Comcast isn’t a slouch by any means, and only good things can come for the company now. However, since March of 2005, Comcast stock prices have locked shares into what is known as “neutral” for months. Even though there are some people that believe that the potential value of the Comcast Corporation is far beyond what Wall Street is giving it credit for, the fact remains that until the Comcast stock price rises out of the less than ideal level, Wall Street remains skeptical.