Comcast Cable® Up for Competition Even if Mergers and Acquisitions Clear

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The President and Chief Executive Officer of Comcast Cable®, Dave Watson, have assured that cable is the company’s main business despite Comcast’s bid for Sky plc and a likely bid for the media assets of 21st Century Fox. “We have not lost any confidence in our core business. Cable is a terrific business,” Watson said through a webcast addressing the audience present in an investor conference held in New York.

He also showed confidence in Comcast’s track record when it comes to mergers and acquisitions, stating that the intention behind the recent bids have got to do with growth opportunities. “We are always disciplined. We always explore opportunities. But by no means does the fact that we look at an opportunity mean that we have lost any confidence in our core business.”

The Comcast Cable® President and CEO has not singled out the company’s $31 billion bid for the pay-TV broadcaster Sky plc, and even a potential bid for 21st Century Fox’s media assets, but everyone knew what he was referring to at MoffettNathanson Media and Communications Summit. It is not yet sure, whether Comcast® will make an offer for Fox, as that depends on whether the AT&T®-Time Warner® deal will get regulatory approval. If it does, reports indicate that the best internet provider will make a $60 billion counterbid for Fox’s entertainment assets, which will top Walt Disney’s $52.4 billion bid for the same.

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Watson said that Comcast® was certain that cable division is “a growth business even with some structural change,” like more competition. If Comcast® acquires the pay-TV broadcaster, not only the streaming services will pose a competition to their cable services, but even similar offerings from other cable providers can be their business counterpart. The Comcast Cable® President and CEO focused on that fact stating that, “video is still a very important category” in which they “will continue to compete.”

On the contrary, the Charter Communications® Chairman and Chief Executive Officer, Tom Rutledge, told the investors present in the conference that, “Video isn’t that material as a stand-alone business to us. I don’t look at video as a [key separate] business and haven’t in a long time.” Rutledge instead focused on reaching a customer base whose services comprise of broadband internet, video, and so forth.

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