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Comcast

American multinational telecommunications and media conglomerate

Comcast, formerly known as American Cable Systems, is a major telecommunications company headquartered in Philadelphia. It is the second-largest broadcasting and cable television company globally, providing services to residential and commercial customers in 40 states. Comcast owns NBCUniversal and various media channels, film studios, and theme parks. Despite its success, Comcast has faced criticism for low customer satisfaction and violations of net neutrality.

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Timeline

1963-01-01
Founding of Comcast
Comcast was founded with the purchase of American Cable Systems in 1963.
1965-01-01
First Purchase by Comcast
Comcast made its first purchase by acquiring Storecast Corporation of America in 1965.
1968-01-01
Comcast Acquires Muzak Franchises
In 1968, Comcast purchased several Muzak franchises.
1969-01-01
American Cable Systems Renamed Comcast
On January 1, 1969, American Cable Systems was rebranded as Comcast and incorporated in Pennsylvania.
1972-01-01
Comcast's First Public Stock Offering
In 1972, Comcast conducted its initial public stock offering.
1977
Comcast introduces HBO for the first time to customers in western Pennsylvania
In 1977, Comcast introduced HBO to 20,000 customers in western Pennsylvania, offering a five-night free preview that led to over 3,000 customers subscribing to the service.
1984-01-01
Brian Roberts becomes vice president for Comcast Cable division
On January 1, 1984, Brian Roberts assumed the role of vice president for Comcast Cable division.
1986-01-01
Comcast grows by adding 1.2 million Cable Customers
By January 1, 1986, Comcast experienced significant growth by more than doubling in size through the addition of 1.2 million Cable Customers.
1988
Comcast acquires 50 percent of Storer Communications Inc.
In 1988, Comcast purchased 50 percent of Storer Communications Inc., solidifying its position as the nation's fifth-largest cable TV operator with over 2 million subscribers.
1992
Comcast Cellular purchases controlling interest in Metrophone
In 1992, Comcast Cellular acquired a controlling interest in Metromedia's Philadelphia-area cellular telephone interests, Metrophone.
1994
Comcast buys Maclean Hunter's U.S. cable operations
In 1994, Comcast acquired Maclean Hunter's U.S. cable operations, propelling it to the third position in the cable industry. This acquisition increased Comcast's subscriber base to 3.3 million.
1995
Acquisition of E.W. Scripps
In 1995, Comcast acquired E.W. Scripps as part of its expansion strategy.
1996
Comcast buys majority ownership of Spectacor and acquires Philadelphia 76ers
In 1996, Comcast purchased majority ownership of Spectacor, the owner of the Philadelphia Flyers and two arenas. They also acquired the Philadelphia 76ers basketball team.
1997
Comcast buys a controlling interest in E! Entertainment
In 1997, Comcast acquired a controlling interest in E! Entertainment, a popular television network known for its entertainment news and celebrity programming. This acquisition expanded Comcast's presence in the media industry.
1999-11
Comcast purchases Lenfest Communications
In November 1999, Comcast acquired Lenfest Communications, the ninth largest cable television operator at the time, consolidating its control over the Philadelphia region.
2001
Comcast acquires Outdoor Life Network and expands investment in The Golf Channel
In 2001, Comcast acquired Outdoor Life Network, now known as Versus, and increased its investment in The Golf Channel, gaining a controlling interest in both networks. This strategic move allowed Comcast to strengthen its position in the sports broadcasting industry.
2002-11-18
Comcast officially acquires all assets of AT&T Broadband
On November 18, 2002, Comcast completed the acquisition of all assets of AT&T Broadband, solidifying its position as the largest cable television company in the U.S.
2004-02-11
Comcast bids for The Walt Disney Company
On February 11, 2004, Comcast announced a $54 billion bid for The Walt Disney Company, aiming to become the largest media conglomerate in the world.
2005-04-08
Comcast and Sony Pictures Entertainment acquire MGM and United Artists
On April 8, 2005, a partnership led by Comcast and Sony Pictures Entertainment finalized a deal to acquire MGM and its affiliate studio, United Artists.
2009-12-03
Key Events in Comcast Corp.'s History
A summary of significant events in the history of Comcast Corp. up to December 3, 2009.
2010
Comcast's Corporate Governance Practices Criticized
In 2010, Comcast received an 'F' rating for its corporate governance practices from Corporate Library, highlighting concerns about board oversight and management ties.
2011-01-28
Completion of Comcast acquisition of NBC Universal
On January 28, 2011, Comcast completed the acquisition of a controlling 51% stake in NBC Universal, including Universal Pictures, solidifying its presence in the media industry.
2013-03-19
Comcast Acquires Remaining Stake in NBCUniversal
On March 19, 2013, Comcast acquired the remaining 49% of General Electric's interest in NBCUniversal, making it a wholly owned subsidiary. This consolidation further solidified Comcast's presence in the media sector.
2014-02-12
Comcast seeks to acquire Time Warner Cable
Comcast announced its intention to acquire Time Warner Cable in a deal worth $45.2 billion, aiming to add several metropolitan areas to its portfolio.
2014-02-13
Time Warner Cable agrees to acquisition by Comcast
Time Warner Cable agreed to be acquired by Comcast, with plans to merge into one company by the end of 2014.
2014-04-09
U.S. Senate Judiciary Committee hearing on Comcast-Time Warner Cable deal
The U.S. Senate Judiciary Committee held a hearing regarding the Comcast-Time Warner Cable acquisition.
2015-04-24
F.C.C. recommends hearing on Comcast-Time Warner Cable deal
Jonathan Sallet of the F.C.C. recommended a hearing before an administrative law judge, signaling potential collapse of the Comcast-Time Warner Cable deal.
2016-04
NBCUniversal division acquires DreamWorks Animation
Comcast's NBCUniversal division confirmed the acquisition of DreamWorks Animation for $3.8 billion, integrating it into Universal Pictures.
2016-09
Comcast partners with Verizon Wireless for cellular network
Comcast announced a partnership with Verizon Wireless to launch a cellular network, expanding its services to offer a quadruple play of services.
2017-04-06
Launch of Xfinity Mobile by Comcast
On April 6, 2017, Comcast officially announced the launch of Xfinity Mobile, expanding its services into the mobile communications sector. This move marked Comcast's entry into the wireless market.
2017-11-16
Comcast's Attempted Purchase of 21st Century Fox
On November 16, 2017, Comcast made a bid to purchase 21st Century Fox, signaling its interest in expanding its media holdings. The attempted acquisition was part of Comcast's strategic growth plans.
2017-12-11
Comcast drops bid for 21st Century Fox
Comcast officially dropped its bid to acquire 21st Century Fox, citing lack of engagement needed to make a definitive offer.
2018-09-22
Comcast outbids 21st Century Fox for Sky plc
On September 22, 2018, Comcast raised its bid for Sky plc to $40 billion, outbidding 21st Century Fox. The bid amounted to $22.57 per share.
2018-09-25
Comcast buys 30% stake of Sky plc
Comcast acquired a 30% stake in Sky plc on September 25, 2018.
2018-09-26
Fox sells 39% stake of Sky plc to Comcast
On September 26, 2018, Fox sold its 39% stake in Sky plc to Comcast for $15 billion in cash.
2018-11-07
Sky plc becomes wholly owned subsidiary of Comcast
On November 7, 2018, Sky plc was delisted after becoming a wholly owned subsidiary and division of Comcast.
2020-02-25
Comcast Acquisition of Xumo
Comcast acquired the free ad-supported streaming television service Xumo on February 25, 2020. The service operates under the Comcast Cable division and is positioned as a complement to the premium streaming service Peacock.
2020-12-31
Comcast Reports Total CO2e Emissions for 2020
Comcast disclosed their total CO2e emissions, including both direct and indirect emissions, for the twelve-month period ending on December 31, 2020. The emissions were reported at 2,291 Kt, showing a decrease of 249 Kt or 9.8% year-over-year.
2021-10-19
Introduction of XClass TV
On October 19, 2021, Comcast announced 'XClass TV', a line of smart TVs manufactured by Hisense that would be powered by the X1 software platform used by its cable services.
2022-06-20
Comcast acquires Levl
On June 20, 2022, Comcast acquired Levl, an American-Israeli startup specializing in wireless device authentication technology, for an estimated $50 million.
2023
Comcast sells stake to Hulu
In 2023, Comcast agreed to sell its 33% stake in Hulu to Disney. The deal valued Hulu at $27.5 billion.
End of the Timeline
Comcast

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