Would Comcast be better off split into 3 parts?
Share to twitterLOS ANGELES, CA, UNITED STATES - 2019/02/12: A view of the Comcast NBCUniversal building in Universal City, California. At a time when many media and telecom companies are eager to expand, a prominent Wall Street analyst is wondering if Comcast should follow a different path.
In an email to me, Moffett said he was making an observation and didn't see it as his role as an analyst to urge companies to take a particular action. Given that the family of CEO Brian Roberts controls about 33% of Comcast's stock, any significant changes to the company would require their approval. It is also unlikely that any activist investor would push the issue.
Shares of the Philadelphia-based company have jumped more than 30% this year, outperforming the S&P 500, which has risen about 20% during that same time."I don't think there is any harm in keeping the businesses together," Christopher Marangi, co-chief investment officer at the Gabelli Funds, said in an interview."I don't think it's fair to consider Comcast to be a conglomerate. They play on both sides in one ecosystem, content creation and content distribution.
Cord-cutters continue to take their toll on Comcast. In the latest quarter, Comcast lost 224,000 net video subscribers. That's well below the 178,000 analysts had expected and the 140,000 customer defections Comcast reported last year.
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