Word: comcasts
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Other nagging issues: the Federal Communications Commission has castigated Comcast for shortchanging some broadband customers when it comes to delivering the service they pay for. The National Football League has long been sparring in and out of court with the company for not carrying the NFL Network as a basic channel. Also, subscribers have been furious about weak customer service despite robust cable bills, which, industry-wide, have risen at twice the rate of inflation since...
Then there's Wall Street. Comcast stock, priced not long ago at $18.35, is trading around 10-year lows. Until recently, some shareholders like Glenn Greenberg, whose Chieftain Capital Management owns 1.5% of the stock, had loudly argued that the company was underperforming. Their major concerns: Comcast was paying too much for acquisitions. Return on assets was way too low. And Brian Roberts wasn't hard-nosed enough...
...Comcast got the message. The company is paying a 25¢-per-share dividend, buying back $7 billion in stock, paring capital expenditures and canceling a scheme to keep paying Ralph Roberts after he dies. Greenberg now says Comcast is coming around, "The company is doing what shareholders want in a very smart...
Give the Robertses credit. They're staying in the game at a moment when Time Warner is spinning off its 15 million cable subscribers. Since its failed bid for the Walt Disney Co. in 2004, Comcast has returned to its roots as a program distributor, smartly upgrading its cable systems so it can offer hundreds of digital channels as well as high-def TV, video on demand, and broadband and telephone service. The company is also shelling out $1 billion--along with other companies like Time Warner Cable, Google and Intel--to fund a wireless Internet venture formed by Sprint...
Since it became clear that Verizon is a threat, Comcast has also stepped up its marketing. That includes discount packages featuring, say, cable TV, Internet and telephone service for $99 a month. While Comcast has lost 195,000 basic-cable customers in the past two sluggish quarters, it has added 1.2 million telephone subscribers, bringing that total to about 5.6 million, as well as adding 770,000 lucrative broadband customers...