Comcast article in Investors Business Daily today is of some interest to Concurrent shareholders, although there is no mention of the company. Still, it provides some additional insights on the movement to digital services including VOD. Some excerpts:
-- "Philadelphia-based Comcast will grow to 8.2 million subscribers this year after it completes a flurry of deals. That's up from 4.5 million just a year ago."
-- "Microsoft invested $1 billion in Comcast in 1997. The deal flagged cable wiring as the broadband pipe of the future, analysts say."
-- "AT&T outbid Comcast last year for Media-One Group Inc., the fourth biggest cable firm ... Then in January, AOL agreed to purchase media pillar time Warner, which operates the second biggest cable system."
--"Comcast may be part of the old gang, but it's primed for big changes, [John] Alchin [Comcast Exec. VP] says. 'The business has changed,' he said. 'It's not surprising it would attract multiple players.' Driving the changes is a high-stakes race between cable firms, phone companies and satellite TV broadcasters to offer superfast Internet hookups to homes. Cable firms hope to offer movies on demand, phone services and online shopping."
-- "With a strong balance sheet, Comcast is well-positioned to buy more cable systems, invest in programming or strike other deals. . . . For starters, Comcast has put aside $125 million as venture capital for Internet firms, says Morgan Stanley Dean Witter Inc. The prospect of new broadband services will help offset costly upgrades to Comcast's network. It has spent billions of dollars to provide advanced services. Like other cable firms, Comcast went digital to counter the threat from satellite TV broadcasters such as DirectTV Inc."
--"With digital set-top decoder boxes, cable subscribers can get more TV and music channels and pay-per-view movies. Comcast had 500,000 digital subscribers at the end of last year, double forecasts. In 2000, Comcast projects $100 million in revenue from digital cable. Alchin expects half of Comcast's customers--or 4 million subscribers--to have digital boxes in five years. They'll buy video-on-demand, e-commerce and other interactive services, he says."
-- Comcast "recently acquired Lenfest Communications Inc. and Greater Media Inc. and expects to conclude buys of Jones Intercable Inc. and Prime Cable Inc. this year."
Starowl |
