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Comcast shareholders took the opportunity Monday morning to press chairman-CEO Brian Roberts on the issue of net neutrality rules ending, the availability of weather data, and what one participant characterized as the problem of Seth Meyers’ “borderline treasonous” commentary on President Donald Trump.
But Comcast’s pending $31 billion bid for Sky and the possibility that it might spend upwards of $60 billion in cash to battle Disney for ownership of other key 21st Century Fox assets was not raised by shareholders during the company’s annual meeting. The meeting held at Comcast’s Philadelphia headquarters lasted less than a than 30 minutes.
Shareholder - Proposal - Comcast - Spending - Activities
A shareholder proposal to require Comcast to disclose its spending on lobbying activities and trade association was voted down during the meeting.
At the start of the session, Roberts talked up “a fantastic year” in 2017 for the company. NBCUniversal delivered double-digit profit growth for the fifth consecutive year. The Universal film division had its most profitable year ever. Shareholder returns over the last 10 years have been running at 231%. Comcast generated some $9.6 billion in free cash flow last year.
Roberts - Company - Culture - Entrepreneurialism - Risk-taking
Roberts credited the company’s “culture of entrepreneurialism and smart risk-taking” for driving growth. Comcast is always in the hunt for opportunities “to create more value for shareholders.” He cited the Sky bid and possible larger...
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