Comcast Has a “Very High” Bar for Deals, CEO Says

1 min read
Comcast Has a “Very High” Bar for Deals, CEO Says

With M&A speculation swirling around the entertainment industry, including NBCUniversal owner Comcast, the media giant’s chairman and CEO Brian Roberts reiterated that the bar for acquisitions was “very high” for his team.Asked on Thursday during the second-quarter earnings conference call how he feels about the state and look of the conglomerate, he said: “We are in a fabulous place.” He continued: “We have unprecedented cash flow and scale” with a company whose various businesses are working “really well together.”His team is always thinking about “whether this is the competitive, right set [of assets] for the company, and I feel it is,” added Roberts. “All parts of the company are really doing a great job in some interesting times. … I feel we are able to return capital to shareholders. I think that has been a real focus.”In terms of possible acquisitions, “our bar is therefore very high”, he concluded. “I am really pleased with the company.”Specific deal options didn’t come up on the call. Earlier this week, a news report suggested that Comcast has talked to TV set makers, including Vizio, about a potential acquisition. Comcast has been pushing into the smart TV set space under the brand XClass as it looks for new ways to reach consumers in their living rooms.In recent days, analysts covering sports entertainment powerhouse WWE have also suggested that Comcast, whose NBCU is a big user of WWE content, could be among possible suitors if the company considers a sale after long-time boss Vince McMahon retired as chairman and CEO. But LightShed Partners analyst Brandon Ross had a more cautious take, writing in a report: “Comcast is the company most investors think would buy. However, we are not sure whether Brian Roberts wants to own the asset.”In Comcast’s fourth-quarter 2021 earnings report, Roberts had also signaled he was concentrating on the businesses the company already owns. “Looking ahead, we remain focused on our many exciting organic growth opportunities across all of our businesses,” he said.And in September, Roberts had said about the asset mix and positioning of Comcast that “I wouldn’t want to trade places with too many people, if anyone.” Speaking during the virtual Goldman Sachs Communacopia Conference back then, he argued that the past couple of years prove that “we are in good businesses [and] scale matters.”Read More

Leave a Reply

Your email address will not be published.

Previous Story

Roswell Based Future Roof and Restoration Delighted To Announce That They Now Offer Public Adjuster Services

Next Story

Nicola and David Yoon Are Ready to “Change the World” With Joy Revolution Imprint

Latest from Blog

U.S. Open day two

NEW YORK, Aug 31 (Reuters) – Emma Raducanu’s U.S. Open title defence ended at the first…