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.
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