Video services

Comcast Unit in $3B Asset Sale

There are big bucks at stake in today's broadband and video roundup.

  • Comcast Corp. (Nasdaq: CMCSA, CMCSK)'s NBCUniversal is selling its 15.8 percent stake in A&E Television Networks for $3.025 billion, the company unveiled in a filing with the SEC. The news gave Comcast's share price a 2 percent hike to $31.91. For more background, see this Bloomberg story.

  • About 20 million DirecTV Group Inc. (NYSE: DTV) customers are set to lose 26 Viacom Inc. (NYSE: VIA) channels, including Nickelodeon, MTV and Comedy Central, at midnight Tuesday as the two parties have been unable to agree a new distribution agreement. In this blog, Viacom claims that following months of negotiations and "significant economic movement," DirecTV has rejected all proposals, "despite our best efforts."

  • Reuters is quoting sources saying that the Federal Communications Commission (FCC) is "ready" to clear the $3.9 billion spectrum deal between Verizon Wireless and a cabal of cable companies. The U.S. Department of Justice , however, could still be an obstacle to the deal getting completed.

  • A compensation package worth $21 million made Comcast CFO Michael Angelakis the most highly paid CFO at any major U.S. company in 2011, reports The Wall Street Journal. With a $7.2 million cash bonus, Angelakis was able to calm himself from the stress of having to take on responsibilities at NBCUniversal, which Comcast acquired last year. The value of Comcast's stock rose 10 percent last year, an increase that no doubt contributed to the CFO's pay packet and a reminder that getting solid results for shareholders can be very rewarding.

  • South Korean cable operator CJ Hellovision has struck a deal with Playcast Media Systems to launch a cloud-based gaming service.

    — The Staff, Light Reading

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