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NAS:CMCSA, Sep 26, 09:37 UTC

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Comcast’s Internet Essentials Program to Partner with Elizabeth Dole Foundation and PsychArmor Institute to Help More Low-Income Veterans Cross the Digital Divide

CMCSA

"Internet access is incredibly important to the veteran community. Yet, about a third of low-income veterans still do not have Internet service at home and about 40 percent do not even own a computer,” said David L. Cohen, Senior Executive Vice President and Chief Diversity Officer at Comcast Corporation. "We think this is simply unacceptable and our partnership with the Elizabeth Dole Foundation and PsychArmor will help more low-income veterans get connected to the Internet so they can receive the benefits they deserve and learn the digital skills they need to be successful as civilians in our fast-paced, global economy.”. "An Internet connection can be a transformative tool for low-income veterans and their caregivers. The greater access to benefits, resources and to each other can truly make a difference in their quality of life,” said Senator Elizabeth Dole, President of the Elizabeth Dole Foundation. "Our first partnership with Comcast NBCUniversal has helped us establish a nationwide network of support for veteran caregivers, and we look forward to building on this work by reaching out across our Hidden Heroes network to connect with low-income veterans who may have been left on the wrong side of the digital divide. Internet Essentials is designed to address the three major barriers to broadband adoption by providing: high-speed Internet service for just $9.95 a month, the option to purchase an Internet-ready computer for less than $150, and access to free digital literacy training in print, online, and in person. For more information, or to apply for the program, please either visit www.internetessentials.com or call 1-855-846-8376.

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Comcast Stock Slid 6% on September 24

CMCSA

Comcast (CMCSA) stock fell 6.0% on September 24 and closed trading at $35.63. Comcast lost ~$10.0 billion in market value. The stock is currently trading 17.0% above its 52-week low of $30.43 and 19.0% below its 52-week high of $44.

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Comcast Wins Sky Bid: Now What?

CMCSA SKY

Over the weekend, telecom giant Comcast Corp. (CMCSA) outbid Twenty-First Century Fox (FOX) in a one-day auction process to acquire a 61% majority stake in U.K.-based Sky PLC (SKY.L), the largest pay-TV operator in the region. While Comcast said it has obtained around 30% of the company's shares so far, it has until Oct. 11 to buy at least a 50% stake for the deal to go through. While Fox already owns 39%, the company's independent committee favored Comcast since "the price of [its] offer is materially superior." Comcast is now expected to reproduce its American content and distribution model in Europe, thus significantly contributing to growth. When the acquisition of Sky is finalized, it will not just have a presence in the U.K., but also in Germany, Austria, Italy and Ireland. This is primarily because Comcast doesn't believe it can run Hulu the way it wants if Disney owns 60% of the network (30% owned by Disney and 30% owned by Fox). Moreover, Sky's streaming segment, NowTV, could help the Comcast-Sky collaboration to build a strong Netflix-style (NFLX) subscription brand in this part of the world, another potential outcome analysts are betting on. While the Sky deal is going to massively add to Comcast's debt profile, which already stands at around $65.8 billion, rating agencies don't seem too concerned about the recent state of events.

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Comcast rounds up small shareholders in race for control of Sky

CMCSA

Comcast has appointed consultants DF King to round up small Sky shareholders as it attempts to pass the 50pc threshold required to seize control following its £29.7bn takeover offer. Its offer in the in the auction fell significantly short of Comcast’s, which was immediately recommended to shareholders by Sky’s independent directors. He could choose to cash in, or attempt to parlay the shareholding into a aseparate deal involving Comcast’s 30pc stake in the US streaming service Hulu. Comcast is racing to hit the 50pc threshold regardless and hoping that Fox will tender in the coming day. Aside from retail investors, the 29.1pc it has already acquired and Fox’s stake, a 14pc chunk of Sky is held by passive index funds that tend to be slower in tendering their shares.

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Comcast’s Internet Essentials Program to Partner with Elizabeth Dole Foundation and PsychArmor Institute to Help More Low-Income Veterans Cross the Digital Divide

CMCSA

Company Also Launches an Internet Essentials Learning Zone Across the District of Columbia, Provides Grants to 19 Local Nonprofits, and Announces Pilot Program for Low-Income Seniors. As part of its effort to close the digital divide for all low-income Americans, now including low-income veterans and seniors, Comcast today announced partnerships between Internet Essentials, the nation’s largest and most comprehensive Internet adoption program for low-income households, the Elizabeth Dole Foundation, and the PsychArmor Institute. “Internet access is incredibly important to the veteran community. Yet, about a third of low-income veterans still do not have Internet service at home and about 40 percent do not even own a computer,” said David L. Cohen, Senior Executive Vice President and Chief Diversity Officer at Comcast Corporation. “Our first partnership with Comcast NBCUniversal has helped us establish a nationwide network of support for veteran caregivers, and we look forward to building on this work by reaching out across our Hidden Heroes network to connect with low-income veterans who may have been left on the wrong side of the digital divide. Internet Essentials is designed to address the three major barriers to broadband adoption by providing: high-speed Internet service for just $9.95 a month, the option to purchase an Internet-ready computer for less than $150, and access to free digital literacy training in print, online, and in person. For more information, or to apply for the program, please either visit www.internetessentials.com or call 1-855-846-8376.

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Comcast Charts Still Send Positive Long-Term Signal After Winning Sky Bid

CMCSA

has been in the headlines as it won the bidding war for a big chunk of British television company Sky. Comcast did other large deals in 2001 and 2009, both with positive results according to our own Jim Cramer, whose Action Alerts PLUS charitable trust owns the stock and who discussed the company Monday on "Mad Money." Financial analysis is over my pay grade, so I will just look at the charts and indicators this morning. In this daily bar chart of CMCSA, below, we can see the price action of the past 12 months.

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What Sky’s Acquisition Means for Comcast

CMCSA

Comcast (CMCSA) outbid Fox (FOX) on Saturday, September 22, in an auction to acquire UK-based broadcaster Sky. Comcast’s offer gives Sky a valuation of ~$40 billion.

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Comcast’s Strategy to Survive the Declining Video Market

CMCSA

Like other cable companies, Comcast (CMCSA) hasn’t escaped the challenge of cord-cutting, as consumers drop traditional pay-TV plans for online video services such as Hulu and Netflix (NFLX). Comcast shed 140,000 pay-TV customers in the second quarter, and its video revenues dropped 1.9% YoY (year-over-year) to $5.6 billion.

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The DoJ to Keep an Eye on Comcast

CMCSA

It’s been seven years since Comcast (CMCSA) took full ownership of NBCUniversal by buying General Electric’s (GE) 51.0% stake in the business. The deal’s approval came with a set of conditions, including the requirement that Comcast must relinquish management rights in Hulu, the online video business it co-owns alongside Walt Disney (DIS), 21st Century Fox (FOXA)(FOX), and AT&T (T).

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