Comcast – Company History
Comcast is an American media and telecommunications giant based in Philadelphia. It currently stands as the second-largest broadcasting and cable television company in the world by revenue. It also lays claim to being the largest cable TV company and largest home Internet service provider in the United States.
Comcast was founded by Ralph Joel Roberts who, along with his partners, started in the industry by purchasing local antenna television stations in more rural areas. In 1969, they incorporated Comcast, a combination of “communications” and “broadcasting”.
Comcast became a publicly traded company on June 29, 1972, with a market capitalization of just over $3 million. Comcast grew its reach by carrying what would become iconic stations such as HBO in 1977 and QVC in the 1980s. It began a series of acquisitions that only strengthened its position both at home and around the globe.
In 2005, Comcast and Sony Pictures made a deal to acquire MGM and United Artists. In 2011, the FCC approved a deal to purchase a controlling 51 per cent stake in NBCUniversal for $6.5 billion in cash and $7.3 billion in programming. As of 2017, Comcast has 164,000 employees and generated $84.5 billion in revenue.
- Family name: Roberts
- Sector: Media & Entertainment
- Founded: 1963
- Founder: Ralph Joel Roberts
- Country: USA
- Company headquarters: Philadelphia, USA
- Managers: Brian L. Roberts
- Revenue: US$74.5 billion
- Rankings: 33 [Fortune 500]
- Family ownership: 33.6%
- Employees: 153,000
- Website: www.corporate.comcast.com