History of Comcast Business and the 5 Companies It Shades

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Please note that Comcast Corporation (CMCSA) is a global media and technology company. The company was founded in 1963 when Ralph Roberts purchased American Cable Systems, a small customer cable system in Tupelo, Mississippi.

History of Comcast Business and the 5 Companies It Shades

The cable company founded as Comcast he went public in 1972 and has since grown to become a world leader in media, entertainment and technology. Comcast Business , now led by CEO Brian Roberts, son of the founder, has a market capitalisation of about $266 billion as of July 8, 2021.

In 2020, the company had $10.5 billion in annualised net income attributable to Comcast Business and $103.6 billion in revenue.

Comcast Business History

Comcast Business started in the early 1960s as American Cable Systems, Inc., a small cable company serving Tupelo, Mississippi. At the time, America was one of the few CATV (Community Antenna Television) services in the country.

CATV’s business is based on the fact that rural areas are underserved by the commercial TV stations that serve metropolitan areas. Without a large CATV antenna to pick up the distant signal, consumers in these areas see little benefit from watching television. CATV charges a fee, but the benefits are worth the price for the customer. 

In 1963, Ralph J. Roberts and his brother Joe sold their stake in Pioneer Industries, a men’s clothing company in Philadelphia, with the intention of investing the proceeds in new industries. After doing some research, it turns out that Jerrold Electronics Company, owner of American Cable Systems, wants to sell his CATV group.

The Roberts brothers hired a young accountant named Julian Brodsky, who had helped liquidate Pioneer Industries, and Daniel Aaron, a former systems director at Gerrold Electronics, to help evaluate opportunities.

He four agreed that this investment had great potential, even though the system only transmits five channels and he only serves 1,500 subscribers. . Ralph Roberts bought American Cable Systems and asked Brodsky and Aaron to run the company together.

However, it is difficult to grow in Tupelo. At times, the three were forced to become door-to-door salespeople. In 1964, they decided to acquire additional franchises in Meridian, Laurel and West Point in eastern Mississippi.

The following year, American Airlines acquired additional franchises in O’Corona and Baldwin, Mississippi. The acquisition increased subscriber numbers but did not significantly impact market penetration. Considering the setup cost of the on-premises system, the number of clients is still insufficient to generate high revenue.

Aggressive expansion from late 1960s to 1970s

Roberts focused on a potential market in the Greater Philadelphia area. In 1966, he successfully competed for his license with Cable in Abington, Cheltenham and Upper in Philadelphia’s northern suburbs.

He then purchased his cable system in Westmoreland, and he served four other communities in western Pennsylvania. To achieve greater economies of scale, Roberts consolidated Westmoreland operations with other franchises. After establishing a foothold in suburban Philadelphia, Roberts expanded its corporate presence to six other local communities.

Roberts made the most of the acquisition, but he was eager for further opportunities, hiring the Philadelphia Bulletin newspaper as a joint venture to build additional cable networks serving Sarasota and Venice, Florida.

In 1968, as part of a limited diversification, Ralph Roberts, along with his brother Joe, purchased a large franchise to offer the “Elevator Music” subscription service. Joe was also the executive vice president of the Muzak Corporation, a small partner in America at the time. in Orlando, Florida 

In 1969, Roberts decided that the name American Cable Systems was too generic for his growing company and decided to change it. To establish a more technical identity, he adopted the words “communications” and “broadcasting”, founded Comcast Corporation, and re-established his company in Pennsylvania.

Comcast, which he reorganised in 1970, sold its Florida operations to Storer Communications and sold Multiview, a local franchise serving Hartford County, Maryland, to buy his cable. Limited formed his partnership.

The limited partnership allows Comcast to fund growth with minimal working capital usage, which can then be used to fund subsequent acquisitions. Comcast anticipated Muzak’s business growth and in 1970 also acquired the Denver service franchise. The company has since acquired Muzak franchises in Dallas, San Diego, Detroit and Hartford, Connecticut.

He has 40,000 subscribers, but with subscriber penetration continuing to stagnate, Comcast needs funding for further expansion. In 1972, Roberts decided to take the company public and list its stock on the over-the-counter market.

In 1974 Comcast acquired Cable His franchise in Paducah, Kentucky, and in 1976 acquired systems in Flint, Hillsdale, and Jonesville, Michigan. Comcast acquired his Multiview partnership the following year.

About Comcast business

Comcast Business offers a wide range of connectivity, communications, networking, cybersecurity, wireless and managed solutions to future-proof businesses of all sizes. With the nation’s largest giga-speed broadband network and 24/7 customer support.

Comcast Business is the nation’s largest cable provider to small businesses and one of the leading service providers for the enterprise market. Comcast Business is consistently recognised by analysts and industry groups as a leader and innovator, and one of the fastest growing Ethernet service providers.   

About the Comcast Company

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to the moments that matter. We are primarily focused on broadband, aggregation and streaming with 57 million customer relationships across the United States and Europe.

We deliver broadband, wireless and video through our Xfinity, Comcast Business and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, broadcast networks NBC and Telemundo, several cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sports Sky; and providing memorable experiences at Universal Parks and Resorts in the United States and Asia.

Top 5 Companies Owned by Comcast

Comcast’s growth from a small cable operator to a multibillion-dollar media and technology giant was driven in large part by strategic acquisitions, both horizontal and vertical. Horizontal acquisitions have helped the company grow into a leading provider of high-speed Internet, video, voice, wireless, and security and automation systems.

 Part of this expansion is due to Comcast’s internal Xfinity brand. Comcast has used other acquisitions to strengthen and expand the types of media content businesses the company is in, including cable television, broadcast television stations, film entertainment, theme parks, and more.

Recently, Comcast was reported to have been exploring ways to adapt to the increasing prevalence of streaming services, including considering a bid to acquire streaming device giant Roku Inc. ( ROKU ).

As of July 2021, there has been no public announcement of such negotiations. Comcast’s growth from a small cable operator to a multibillion-dollar media and technology giant was driven by strategic acquisitions.

Comcast has used the acquisition to strengthen and expand the types of businesses the company does, including cable television, broadcast television stations, movie entertainment, theme parks, and more.

Five of Comcast’s most important acquisitions are AT&T Broadband, NBCUniversal, Sky, DreamWorks Animation, and XUMO. The company has not always been successful in capturing every company it has tried to acquire. In its bid to acquire Fox in 2018, Comcast lost to Walt Disney Co. ( DIS ). Comcast failed to take over Disney in 2004.

1. Broadband AT&T

Business Type: Broadband Service Provider

Acquisition Price: $47.5 billion

Acquisition Date: November 18, 2002

AT&T started with the invention of the telephone in 1876 by Alexander Graham Bell. The following year, Bell and colleagues founded the Bell Telephone Company. AT&T was later founded as a subsidiary of Bell.

In 1899, became the holding company of the entire Bell system after purchasing all of Bell’s assets. Fast forward to over 100 years later, when AT&T restructured in 2000 into separately traded companies, one of which was AT&T Broadband.

Comcast acquired AT&T Broadband in 2002 with the hope that the cable provider would become a leading communications, media and entertainment company. The acquisition has helped Comcast Business to provide faster broadband speeds as well as offer more innovative television services across the US.

2. NBCUniversal

Business Type: Mass Media

Acquisition Price: $22.9 billion (see discussion below)

Acquisition Date: 28 Jan 2011 (51%)

and 12 February 2013 (49%)

Annual Revenue (2020): $28.1 billion

Annual Adjusted EBITDA (2020): $6.3 billion

NBCUniversal is a product of the 2004 merger of television network National Broadcasting Co. Inc., a subsidiary of General Electric Co. (GE), and French media conglomerate Vivendi Universal Entertainment.

In 2011, Comcast acquired 51% of the company from GE, thus forming a joint venture (JV) . Comcast paid GE $6.2 billion in cash and contributed $7.25 billion worth of certain programming assets to the JV. Comcast bought the remaining 49% from NBCUniversal for $16.7 billion in 2013.

NBCUniversal is now a leading entertainment and media company developing, producing, and distributing entertainment, news, information, sports, and other content for a global audience. The business also operates amusement parks around the world. NBCUniversal operates through four segments: Cable Networks, Broadcast Television, Movie Entertainment, and Theme Parks.

Comcast and NBCUniversal are currently strategising to expand dramatically into streaming media by building streaming businesses from within or buying companies. The company is eyeing a partnership with ViacomCBS Inc. or a Roku takeover, according to a new report in The Wall Street Journal, as also mentioned above.

Media companies such as ViacomCBS, Walt Disney Co., and Amazon.com Inc. have merged to accelerate their streaming plans. Comcast is currently alone among the media giants in aggregating content and distribution.

3. SKY

Business Type: Broadcasting and Telecommunications

Acquisition Price: Estimated $40 billion

Acquisition Date: October 9, 2018

Annual Revenue (2020): $18.6 billion

Annual Adjusted EBITDA (2020): $2.0 billion

Sky Broadcasting stems from a previous merger between Rupert Murdoch’s Sky Television and British Satellite Broadcasting. Comcast then beat rival Disney to secure control of Sky in 2018. Sky is Europe’s leading entertainment company, providing video, high-speed Internet, voice and wireless telephony services.

It also operates content businesses, including entertainment network, broadcast network Sky News, and network Sky Sports. The acquisition helps Comcast expand its international reach.

4. DreamWorks Animation

Business Type : Animation Studio

Acquisition Price: $3.8 billion

Acquisition Date: 22 August 2016

DreamWorks Animation originated as a division of DreamWorks SKG, which was founded in 1994 by Steven Spielberg, Jeffrey Katzenberg, and David Geffen, hence the company names S, K, and G. The company spun DreamWorks Animation into a separate company in 2004. It was acquired 12 years later in 2016 by Comcast subsidiary NBCUniversal.

DreamWorks Animation is now part of Comcast’s Filmed Entertainment business. The studio produces animated film and television content, expanding Comcast’s media entertainment offerings for children and family.


Business Type: Online Video Streaming

Acquisition Price: not disclosed; estimated at $100 million.

Acquisition Date: 25 February 2020

XUMO was founded in 2011 as a JV between Viant Technology (later called Interactive Media Holdings) and Panasonic. The company was later acquired by Comcast for an undisclosed amount in 2020.

XUMO offers free streaming entertainment, news, sports and more with over 190 different channels. It will continue to operate as an independent business within Comcast Cable. The acquisition expands Comcast’s video streaming offerings and specifically provides free streaming content to consumers who wish to view the advertising that accompanies that content.

And, we have finished our explanation about Comcast Business. It is undeniable, our daily lives are also sometimes inseparable from Comcast products. Are you also among those who love this service?