Comcast Corporation (CMCSA) - NASDAQ
  • Wed, Jul. 13, 6:43 PM
    • Level 3 Communications (NYSE:LVLT) closed today up 3.5% after touching a 52-week high on news that it's looking into strategic alternatives -- which could include a buyer from outside telecom.
    • Comcast (NASDAQ:CMCSA) is speculated to be a possibility among suitors, but so is Google (GOOG, GOOGL), with whom Level 3 signed an interconnection agreement earlier this year.
    • Citigroup analysts Michael Rollins and Neth Wiedemann can't confirm the reports, but they love the stock ("top pick within our coverage group given its growth, financial flexibility, valuation, and strategic optionality") and float another candidate: rival Zayo Group (NYSE:ZAYO).
    • Zayo could itself be an attractive target for a cableco, but "We also would not dismiss the possibility that Level 3 and Zayo could consider a merger scenario to become a larger competitor for the enterprise market against the incumbents AT&T and Verizon Communications."
    | Wed, Jul. 13, 6:43 PM | 22 Comments
  • Tue, Jun. 28, 1:52 PM
    • Jeffrey Katzenberg, CEO of DreamWorks Animation (NASDAQ:DWA), is the target of a class-action suit saying he's benefited handsomely from a lucrative side deal tied to the studio's $3.8B takeover by Comcast (NASDAQ:CMCSA).
    • Shareholder Ann Arbor City Employees Retirement System says Katzenberg breached a duty to minority shareholders in taking a consulting deal where he takes just $1 in annual salary -- but 7% off profits from DreamWorks New Media (where he'll be chairman), in perpetuity.
    • Had Katzenberg not gotten that deal, the plaintiffs say, "Comcast would have been required to increase the merger price to secure Katzenberg's support."
    • Comcast agreed to pay $41/share in cash in the deal, and Katzenberg voting his controlled stock in favor assured approval for the transaction.
    | Tue, Jun. 28, 1:52 PM | 1 Comment
  • Thu, Jun. 23, 1:52 PM
    • Comcast (CMCSA +0.4%) has agreed to acquire Icontrol Networks, the company providing the technology behind Comcast's Xfinity Home System.
    • Icontrol -- whose software enables home automation and management of such devices as sensors and thermostats -- raised $93.5M from venture capital firms that included Comcast Ventures as well as Intel Capital and Kleiner Perkins Caufield & Byers.
    • Alarm.com (ALRM +11.6%) is taking over the other elements of Icontrol's business, for about $140M.
    • Terms of the deal weren't disclosed.
    | Thu, Jun. 23, 1:52 PM | 2 Comments
  • Tue, May 10, 1:35 PM
    • If it seems like NBCUniversal (CMCSA +1.6%) moved quickly from rumor to inked deal on its scquisition of DreamWorks Animation (DWA +0.3%), it's because there really was a race, against yet another Chinese investor in U.S. entertainment.
    • PAG Asia Capital was the mystery bidder for the studio, The Wall Street Journal reports. But Comcast's premium won the day.
    • Comcast agreed to pay $3.8B for DreamWorks Animation, or $41/share in cash. DWA has since traded up to $40/share.
    • PAG has $15B under management and last month agreed to go in with Apex Technology on a purchase of Lexmark. Meanwhile, over the past year Chinese firms have bought into U.S. theatrical exhibitions and film studios as well as kicking the tires on a minority stake in Paramount Pictures.
    • Now read Merger Arbitrage Opportunity: Comcast To Buy DreamWorks »
    | Tue, May 10, 1:35 PM | 5 Comments
  • Mon, May 9, 8:01 AM
    • Comcast (NASDAQ:CMCSA) snapped up digital TV ad specialist StickyAds.tv for an undisclosed amount, according to Recode.
    • Sources indicate that the French startup will be placed into the company's FreeWheel unit.
    | Mon, May 9, 8:01 AM
  • Thu, Apr. 28, 10:00 AM
    • DreamWorks Animation (NASDAQ:DWA) has resumed trading up 24.2% -- hitting its highest level since 2010 -- after a halt tied to its $3.8B acquisition deal with NBCUniversal.
    • NBCU parent Comcast (NASDAQ:CMCSA) is off 0.4% after making the very Disney-like move. Speculation yesterday had turned to Comcast's interest in DWA focusing on what it could do for theme parks and consumer products rather than the film slate itself.
    • DreamWorks Animation will join Universal Pictures, Fandango, and NBCU Brand Development in Comcast's Universal Filmed Entertainment Group.
    • Comcast notes it gets a broader reach toward a "host of new audiences in the highly competitive kids and family entertainment space," with properties including Shrek, Madagascar, Kung Fu Panda and How to Train Your Dragon, as well as a family-oriented TV operation and a library of classic characters including Where's Waldo and Rudolph the Red-Nosed Reindeer.
    • Previously: DreamWorks Animation jumps 18% on $3B Comcast M&A reports (Apr. 27 2016)
    • Previously: WSJ: Comcast in talks for $3B-plus acquisition of DreamWorks Animation (Apr. 26 2016)
    | Thu, Apr. 28, 10:00 AM | 4 Comments
  • Thu, Apr. 28, 9:14 AM
    • Coming quickly after the early reports, NBCUniversal (NASDAQ:CMCSA) is acquiring DreamWorks Animation (NASDAQ:DWA) for $41/share in cash, a 27% premium over yesterday's already boosted DWA price of $32.20.
    • That comes to $3.8B total. Shares in DWA were up 0.6% premarket and are currently halted. They'll resume trading at 9:50 a.m. ET.
    • DreamWorks Animation will become part of Universal Pictures' Filmed Entertainment Group in the deal, which has been approved by both companies' boards as well as the controlling shareholder at DWA.
    • After closing, DWA CEO and co-founder Jeffrey Katzenberg will become chairman of DreamWorks New Media (AwesomenessTV and NOVA) and act as consultant to NBCUniversal.
    • The transaction is expected to close by the end of the year.
    • Previously: Comcast focus in any DreamWorks Animation talks: Parks, products (Apr. 27 2016)
    | Thu, Apr. 28, 9:14 AM | 6 Comments
  • Wed, Apr. 27, 6:58 PM
    • Acquisition talks between suitor Comcast (NASDAQ:CMCSA) and target DreamWorks Animation (NASDAQ:DWA) may not be so much about the on-screen panda as the parks and products.
    • Sources tell The Wall Street Journal that discussions for a potential $3B-plus purchase of the studio by Comcast is about everything but the movies -- a chance to help feed consumer products and the Universal theme parks.
    • DreamWorks Animation jumped 18.7% today to an easy new 52-week high off last night's reports, ending the day around a $2.78B market cap. Comcast, meanwhile, was up 0.4% following its earnings beat today.
    • Also, while his fate was undetermined in earlier reports, DreamWorks chief Jeffrey Katzenberg would depart in the event of a consummated transaction, the people said. That suggests that contrary to early reports, DWA wouldn't survive in its current form but might be broken up and subsumed inside the Comcast units.
    • A sale would also likely mean cutbacks in DWA's slate and spending plans.
    • Previously: DreamWorks Animation jumps 18% on $3B Comcast M&A reports (Apr. 27 2016)
    • Now read DreamWorks Animation »
    | Wed, Apr. 27, 6:58 PM | 8 Comments
  • Wed, Apr. 27, 10:04 AM
    • DreamWorks Animation (NASDAQ:DWA) is up 18.3% after last night's news that Comcast (NASDAQ:CMCSA) was kicking tires on a possible $3B-plus acquisition of the studio.
    • Comcast didn't respond to questions on today's earnings call about the reports.
    • The move could add significantly to Comcast's stable of family-friendly offerings, making it a bigger rival to Disney. Its Universal Pictures studio already runs Illumination Entertainment, which makes the Despicable Me movies (including Minions, a runaway spinoff hit last year that grossed a whopping $1.16B worldwide).
    • And its entertainment products are fueling a growing theme park business, boosted most recently with the Hollywood opening of a Harry Potter attraction.
    • A source told the WSJ that in any acquisition, Illumination and DreamWorks Animation would stay separate brands, which could affect the fate of DWA head Jeffrey Katzenberg, a longtime studio exec (and who controls about 60% of DWA voting stock). He's due $21.9M if the company's sold and he leaves.
    • Now read Why Dreamworks Should Never Make An R-Rated Movie »
    | Wed, Apr. 27, 10:04 AM | 6 Comments
  • Tue, Apr. 26, 9:20 PM
    • Comcast (NASDAQ:CMCSA) is in discussions for an acquisition of DreamWorks Animation (NASDAQ:DWA) that would amount to more than $3B, The Wall Street Journal is reporting.
    • Any deal would likely result in a merger of DWA operations with Comcast's Universal Pictures, which already operates Illumination Entertainment (animator of the Despicable Me movies).
    • DreamWorks Animation closed down 0.1% today, at a market cap of about $2.34B, and finished the postmarket session unchanged. Comcast, which gained 0.1% during the regular session, finished up 1.5% postmarket.
    • Now read DreamWorks Animation »
    | Tue, Apr. 26, 9:20 PM | 15 Comments
  • Sun, Apr. 17, 8:56 PM
    • With tomorrow's deadline arriving for bidders for core assets of Yahoo (NASDAQ:YHOO), the long-shot bid of Time Inc. (NYSE:TIME) won't be among them, as the company decided fixing the business was too big a task, The Wall Street Journal reports. (It would have also faced severe leveraging trying to swallow the business.)
    • With a number of bidders bowing out as expected, Verizon (NYSE:VZ) is indeed a front-runner among the few firms moving forward. Aligning somewhat with a number of other media reports (and rumors), now bowing out for sure are Alphabet (GOOG, GOOGL), Comcast (NASDAQ:CMCSA), AT&T (NYSE:T) and IAC/InteractiveCorp (NASDAQ:IAC), the Journal says.
    • It appears Verizon's biggest competition may come from private equity (Bain Capital, TPG, Advent International), reinforcing the strength of Verizon's bid. It was unclear whether KKR would stay in the bidding, and the Daily Mail (OTCPK:DMTGY) may still be in, but with P-E help.
    • Now read Why Verizon Is The Clear Front-Runner To Buy Yahoo »
    | Sun, Apr. 17, 8:56 PM | 47 Comments
  • Thu, Apr. 7, 2:58 PM
    • Yahoo (NASDAQ:YHOO) shares have jumped into positive ground, now up 1.2%, on news that Verizon (NYSE:VZ) is proceeding with a bid for its core assets.
    • Shares were down as much as 2.6% today.
    • Alphabet unit Google (GOOG, GOOGL) is also weighing its own bid, Bloomberg reports, with interest also showing up from Bain Capital and TPG. Time Inc. (NYSE:TIME) is still out there as well.
    • AT&T (NYSE:T) and Comcast (NASDAQ:CMCSA) are losing interest, Bloomberg also said, with Microsoft (NASDAQ:MSFT) also deciding it wouldn't bid.
    • Verizon might also put in for Yahoo's Japan interests, the report said.
    • Updated 3:06 p.m.: After a big spike into positive ground, Yahoo shares have gone negative again, -0.1%. Verizon is said to value the core business at less than $8B, vs. Yahoo's hopes for a $10B valuation, and has engaged three banks.
    • Now read Yahoo Should Be At Least $48 A Share »
    | Thu, Apr. 7, 2:58 PM | 30 Comments
  • Thu, Mar. 3, 3:41 PM
    | Thu, Mar. 3, 3:41 PM | 32 Comments
  • Wed, Feb. 17, 3:18 PM
    • Comcast (CMCSA +0.4%) and Time Warner (TWX +2%) are coming together in an online ticketing tie-up, as Universal's Fandango has agreed to acquire movie sites Flixster and Rotten Tomatoes from Warner Bros.
    • It's an equity deal and will make Warner Bros. a minority owner in Fandango, the leading online ticket seller that will stay part of Comcast's Universal.
    • The move combines some of the best-known online destinations for theatrical moviegoers. Flixster and Rotten Tomatoes, which combined years ago (and were acquired by Warner in 2011), had a combined 19.4M U.S. visitors in January, while Fandango reached 40.3M. Amazon.com's IMDB had 73.8 million.
    • Fandango recently bought digital movie seller M-Go (and Flixster will soon stop selling movies to concentrate on news and information). Meanwhile, Lions Gate, Disney and Fox have led a $50M investment into Fandango competitor Atom Tickets.
    • Previously: Studios lead funding found for new movie-ticket app Atom (Feb. 01 2016)
    | Wed, Feb. 17, 3:18 PM | 1 Comment
  • Sun, Jan. 3, 8:45 AM
    • Despite a record-setting year for M&A, 2015 has also been full of plenty of no's from U.S. antitrust officials:
    • Staples (NASDAQ:SPLS) agreed to buy its rival Office Depot (NASDAQ:ODP) in February for more than $6B, but regulators worried the tie-up would eliminate competition and sought to block the merger in December.
    • Although General Electric (NYSE:GE) decided to sell its appliances business to Electrolux (OTCPK:ELUXY) for $3.3B in 2014, the Justice Department filed suit this summer, alleging the deal would result in higher kitchen appliance prices. GE walked away from the deal last month.
    • Sysco (NYSE:SYY) reached its $3.5B deal for U.S. Foods in December 2013, hoping the combination would help it cut costs, however, the tie-up got shot down by the FTC in June.
    • The nation's two biggest cable operators, Comcast (NASDAQ:CMCSA) and Time Warner Cable (NYSE:TWC), reached a $45.2B deal to combine in February 2014, although the DOJ said the merger would make Comcast "an unavoidable gatekeeper for Internet-based services." The latter canceled the deal in April.
    • Thai Union (OTC:TUFRF), owner of the Chicken of the Sea brand, struck a $1.5B deal for U.S. rival Bumble Bee Seafoods in December 2014, but the companies walked away from the agreement a year later amid antitrust objections.
    | Sun, Jan. 3, 8:45 AM | 19 Comments
  • Dec. 22, 2015, 9:47 AM
    • Comcast (NASDAQ:CMCSA) is up 1% as Morgan Stanley names it a top large-cap pick for 2016, noting things have been flat with its stock price in the nearly two years since it launched an unsuccessful pursuit for Time Warner Cable.
    • That's in spite of EBITDA growth of 7-8%/year. Analyst Benjamin Swinburne has Comcast rated Overweight, with a $70 price target -- 23% implied upside from its current price.
    • Swinburne says Comcast's cable subscriber losses can be directly tied to its efforts to serve "cord shavers" and that it can take advantage of a strong broadband pipe and skinny bundles to take share from the competition. He writes that Comcast has a good chance to add net video customers in 2016 for the first time in 10 years.
    • The company is denying British media reports that it's considering a $16B bid for the UK's ITV (OTCPK:ITVPY), in which John Malone has a near-10% interest.
    • The Mail said that the two companies had been in talks, a report that Comcast tried to tamp down as speculation. Comcast does have a big balance sheet for deals after its pursuit of TWC fizzled out.
    | Dec. 22, 2015, 9:47 AM | 1 Comment
Company Description
Comcast Corp. is a media, entertainment and communications company. The company provides video, high-speed Internet and phone services to residential and business customers in the United States. The company operates its business through five reportable segments: Cable Communications, Cable... More
Sector: Services
Industry: CATV Systems
Country: United States