Comcast is a global telecommunication conglomerate. It has its headquarters in Philadelphia, United States of America. The word conglomerate reveals that Comcast owns many other companies with different names and functions. People are not aware of the list of companies owned by Comcast because the companies owned by Comcast have contrasting labels and activities. In this article, we will learn about the list of ‘Companies Owned By Comcast’.
Companies Owned By Comcast
The companies owned by Comcast are listed below
- NBCUniversal
- Dreamworks Animation
- Oxygen
- AT&T
- Xumo
- Sky group plc
Let us see about each company in brief. Hope this would inspire and encourage you to start a business in life.
Companies Owned By Comcast
1. NBCUniversal
National Broadcasting Company alias; NBC is the oldest broadcasting network in the United States. NBC started as a radio network and began its journey in television service in 1939. Due to the financial crisis caused by over-expansion, Universal entertainment sold its 80% stake to NBC to become NBCUniversal in 2004.
How did Comcast acquire NBCUniversal?
In 2009, NBCUniversal’s financial performance was poor because of the lack of viewership. After observing its poor performance, Comcast decided to purchase NBCUniversal in 2009 to increase its viewership by making its content accessible on different platforms. Comcast started negotiations with NBCUniversal in 2009 and acquired its 51% stake after signing a deal in 2011.
2. Dream works animation
In 1994 Steven Spielberg, Jeffrey Katzenberg, and David Geffen founded Dream works animation. Their intention for creating the company is to produce and distribute extreme quality; movies, pieces of music and; TV shows that would make audiences all over the world look in awe.’The peacemaker’ is the first movie that came out under the banner of Dream works animation. Some of its other famous films are Mouse Hunt, Amistad, Small soldiers etc.
Why does Comcast wish to acquire DreamWorks Animation?
The price of DreamWorks Animation was very small. Comcast needed more cartoon characters for its theme park to attract more customers. It wanted to produce more shows for the kids. Due to these reasons, Comcast acquired Dream Works Animation for $3.8 billion in 2016.
3. Oxygen
Geraldine Laybourne founded Oxygen Media in 1998. Geraldine Laybourne was a former CEO of Nickelodeon. One engrossing news about Oxygen was its presence in the World Trade Center. Its office got destroyed because of the 911 attack. Oxygen studio began to function within a week after the attack in the Chelsea market, Newyork city. Campus ladies, Oprah After the Show, Snapped, and The Bad Girls Club are some famous shows aired on Oxygen TV channel. It was the only TV channel owned and operated entirely by women.
When did Comcast purchase this company?
Comcast purchased Oxygen media for $925 million by signing a Multi-Year carriage agreement. Oxygen media agreed to sign a deal with Comcast because they believed that signing with Comcast would take their brand to cover the entire United States of America.
4. AT&T
The expansion of AT & T is the American Telephone and Telegraph company. Alexander Graham Bell founded the AT&T company in 1877 to provide telephone and telegraph connections in the United States of America. AT&T is the world’s largest mobile phone service provider and telecommunication company. It occupies 9th position in the Fortune 500 rankings. According to a report, its revenue crosses $180 billion.
Why did Comcast merge with AT&T?
Comcast decided to merge with AT&T to increase its subscribers. So, Comcast negotiated with AT&T for the past six months. Finally, AT&T agreed to a $72billion deal with Comcast. After signing an agreement, AT&T became AT&T Comcast corp in 2001.
5. Xumo
Xumo is an OTT platform that streams movies and TV shows. In the year 2011, Panasonic and Meredith company launched Xumo. It is a free platform. It works based on the principle of advertising video on demand. Millennials are the targeted viewers of this platform. According to a 2020 report, Xumo has a partnership with 75 partners for their content. One accesses Xumo through a website, smartphone or smart TV.
Why did Comcast purchase this company?
Comcast had partnerships with smart TV companies such as LG, Vizio and Panasonic. Since Xumo is a free service and pre-installed in smart TVs, Comcast wanted to purchase this company since this could bring them more users. Comcast negotiated and purchased this company for $100 million in 2020.
6. Sky group plc
Sky group launched the first satellite TV service in the United Kingdom. Also, it launched the first 24-hour news channel in Europe. It became the first television service provider to switch from analogue to digital. It has 23 million viewers in six countries.
Why did Comcast purchase Sky Group plc?
To increase the viewership and expand globally, Comcast decided to purchase Sky group. Comcast purchased Sky group for $39billion in 2018. Currently, it holds a 75% stake in Sky group.
To sum up, Comcast is becoming a giant by purchasing more companies with its purchasing power. It is no wonder that Comcast would set its footprint in all the countries of our world. Let us all believe that Comcast will achieve this feat in our lifetime. I hope you have all learned about the companies owned by Comcast.
FAQS
- What are the other companies owned by Comcast?
The other companies owned by Comcast are Cloo, Comcast spectacor, MSNBC, New era tickets etc.
- Who owns Comcast?
Brian L.Roberts is the chairperson of Comcast.
- Where is the headquarters of Comcast?
The headquarters of Comcast is in Philadelphia.
- What is the networth of Comcast
The net worth of Comcast is $266 billion.
