Comcast Acquires SusCom

PHILADELPHI, and YORK, Pa. -- Susquehanna Pfaltzgraff Co. and Comcast Corporation (Nasdaq: CMCSA, CMCSK) announced today that they have signed a definitive agreement to sell Susquehanna Communications (SusCom), the cable television and broadband services division of Susquehanna Pfaltzgraff, to Comcast, the nation's leading provider of cable, entertainment and communications products and services. Susquehanna Pfaltzgraff announced earlier this year that it would sell the business, citing changes in corporate and family circumstances.

"We are extremely proud of the state-of-the-art systems and exceptional customer care that SusCom and its outstanding people deliver to the marketplace today," said Louis J. Appell, Jr., chairman of the privately owned Susquehanna Pfaltzgraff Co. "We were a pioneer in cable television 40 years ago and have continually sought to provide our customers with leading-edge communications services."

William H. Simpson, president and chief executive officer of Susquehanna Pfaltzgraff, said, "Technological innovation is occurring rapidly in the cable and telecommunications industries, providing the ability for large companies like Comcast to cost-effectively deliver more traditional cable channels, as well as advanced services like Video on Demand and Voice over Internet Protocol telephony."

Comcast Chairman and CEO Brian L. Roberts said, "These cable systems have been well run and are very complimentary to Comcast's service areas. We look forward to introducing Comcast's advanced suite of broadband services in these markets soon."

Comcast Corp.