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Comcast Corporation: Acquisition of NBC Universal and the Battle for Sports Programming

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Comcast Corporation: Acquisition of NBC Universal and the Battle for Sports Programming Comcast Corporation: Acquisition of NBC Universal and the Battle for Sports Programming Executive Summary Comcast acquired NBC Universal on January 28th of2011. Upon this purchase, they also acquired the various networks of USA, Bravo, SyFy, CNBC, and MSNBC all being huge additives in the purchase adding to the revenue of the business venture at stake. Comcast’s resource development has been established by Comcast’s marketable assets defining themselves by product research as well as the development of the acquired technology, and the development of various systems. Comcast’s general idea is to implement the thought of a resonating concept that radiates to the general public regarding itself in a way that is marketable to all. The resources and abilities combined with Comcast’s already strong logistics, as well as their excellent marketing abilities and excellent customer service departments have created a strong infrastructure that is more than capable and prepped for expansion. The major expansions that appear on the horizon for Comcast are equally distributed by the ability to expand their corporation. As such, their acquisition of NBC will vastly expand their ability to obtain new technological and content capabilities As it is, Comcast itself is a multimedia giant, being known throughout the United States as one of the leading providers of cable television as well as a provider of internet and phone services. It is through this vast resource system that has not only allowed Comcast to grow into a multimedia giant, but create the opportunity to grow into a national leading provider and well subscriber to all.. Comcast’s recent acquisition of NBCU has now given them the ability to create a new sustainable competitive advantage through the only area Comcast may have been deficient in. Comcast should now have a very rare competitive advantage that will be difficult to match by many competitors. Comcast’s ability of becoming a stronger competitor to their rivals such as Walt Disney Co.’s ESPN, News Corp.’s Fox, and Time Warner’s Inc.’s Turner will allow them to gain more market power. Comcast will increase their market power towards these three companies by multipoint competition and through vertical integration. The multipoint competition strategy will be utilized against its competitor Walt Disney Company. Since acquiring NBC Universal, Comcast will be in direct competition with Walt Disney Company in two product areas; the theme park sector and broadcast network sector. Walt Disney Co.’s ESPN is currently the leading provider in sports and is Comcast’s biggest competitor when it comes to gaining market power in the venue of sports entertainment. Another way that Comcast is able to gain market power is through vertical integration. When the cable and broadcast network came together they created a “media powerhouse” says Brian Stelter and Tim Arango of New York Times. Comcast is now a major producer of television shows along with movies. The NBC Universal joint venture will give Comcast an advantage over Walt Disney Co.’s ESPN, News Corp.’s Fox, and Time Warner’s Inc.’s Turner because they will still have to make contracts with cable companies unlike Comcast and NBC Universal. Comcast Corporation decided to operate with a strategy to position itself differently from its competitors by providing its customers with an acceptable level of cost, with unparalleled products and services. Value is created for the customer in how Comcast chooses to differentiate its products or services from those produced by its competitors. To properly differentiate themselves amongst the likes of Disney, News Corp., or Turner, Comcast must improve upon its customer relations. Providing value delves further than merely providing an exceptional product at low cost. Satisfaction is also realized by exceptional customer service. It is the final recommendation after thorough analysis of Comcast Corporation, their internal and external environments, and their business strategies, that they do indeed pursue the addition of sports programming to compete against the likes of Disney’s ESPN. However, even with a television audience of well over 100 million people for the more recent Olympic Games, NBC suffered substantial losses from the Games to the tune of $220 million. Thus, it is recommended that Comcast no longer pursue the Olympic Games to be televised on NBC Universal based on their newly formed strategy of only making deals when money can be made. Company History Comcast Corporation is one of the world’s leading media, entertainment, and communications companies today. Comcast is principally involved in the operation of cable systems through Comcast Cable and in the development, production, and distribution of entertainment, news, sports, and other content for global audiences through NBC Universal. (Comcast) Comcast Corporation has been headed by Chairman and CEO Brian L. Roberts since 2004. In this instance, CEO duality has enhanced effective decision making and actions for Brian L. Roberts and Comcast, as under his leadership Comcast has grown into a Fortune 100 company, the nation’s largest video provider, largest Internet services provider, and the fourth largest phone company. (Comcast) Brian L. Roberts’ managerial success has been rewarded by his receiving of business and industry honors for leadership, such as being named as one of America’s top CEOs for six consecutive years by Institutional Investor magazine, and getting Comcast named as one of the most shareholder-friendly companies for the fourth consecutive year. Comcast continually attains such excellence by enthusiastically following their mission to “deliver a superior experience to customers every day by providing the best products and offering the most customer-friendly and reliable service in the market.” Prior to becoming the communications giant Comcast is today, Comcast was founded in 1963 by Ralph J. Roberts, Daniel Aaron, and Julian A. Brodsky with the purchase of a 1,200 subscriber cable system in Tupelo, Mississippi, under the name American Cable Systems. Not until 1969 did Comcast officially become known as Comcast Corporation after being incorporated in Pennsylvania where the company is still headquartered to this date. The initial public stock offering for Comcast Corporation took place on June 29, 1972 for 430,000 shares at $7 per share under the NASDAQ stock symbol CMCSA. (CMCSA) As of April 21, 2011, however, Comcast was trading at $25.34 per share with nearly three billion shares outstanding. And recently, Comcast announced plans of increasing their planned annual divided by 19 percent to $.45 per share while also intending to accelerate their share repurchases by purchasing $2.1 billion of its stock by the end of 2011. Instead of a measly 1,200 subscribers, from December 31, 2009 data, Comcast Corporation serves approximately 24 million video customers, 16 million high- speed Internet customers, and 8 million phone customers, as well as approximately 51 million homes in 39 states in addition to the District of Columbia. (Yahoo Finance) The year 1986 marked the first year for a long line of mergers and acquisitions by Comcast Corporation that have shaped how their organizational culture functions today. Comcast doubled in size to 1.2 million customers with the purchase of 26 percent of Group W Cable, and then followed this purchase by making a founding investment in the now popular television shopping channel QVC. By 1988, with the purchase of 50 percent of Storer Communications, Inc., Comcast possessed over two million subscribers, making it the fifth largest cable operator. With the acquisition of Maclean Hunter’s US cable operations in 1994, Comcast became the third largest cable operator. Comcast continued to expand via cable with the acquisition of different television networks, and also entered into other areas of telecommunications such as the Internet with the launching of their first broadband product in 1996, and cellular telecommunications with the purchase of American Cellular Network Corporation in 1988. After Comcast and AT&T broadband completed a $47.5 billion merger in 2002, Comcast became the nation’s largest video provider, the nation’s largest Internet service provider, as well as an innovative and reliable source for traditional and cellular phone services. Case Background It was then in 2004 that Comcast attempted and failed a hostile takeover attempt of Walt Disney Company. In its rejection notice, Disney stated the Comcast offer of approximately $50 billion undervalued the company by at least $7 billion based on the stock closing price on the day after the hostile takeover was announced. Comcast had hoped a marriage with Disney, and thus the acquisition of its ABC network, ABC family, and ESPN cable outlets, would have “created one of the world’s leading entertainment and communications companies with an unparalleled distribution platform and an extraordinary portfolio of content assets.” (Internet news) Frustration after the unsolicited bid for Disney triggered Comcast to pursue other options, NBC Universal in particular. Comcast Corporation in January 2011 announced the approved joint venture by the Federal Communications Commission between Comcast and General Electric that Comcast had bought 51 percent of NBCU for $6.5 billion in cash, and injecting cable channels into the joint venture. As a part of this joint venture, Comcast will control and manage NBC Universal’s operations, and each will retain their popular consumer brand names. (mediamorph) The value of NBCU lies in its lucrative cable channels – USA, Bravo, SyFy, CNBC, and MSNBC. With the channels Comcast is contributing to the joint venture, it is suggested about 82 percent of the company’s cash flow will result from these channels. (nytimes) From a business perspective it is thought that this deal would allow Comcast to make more of their own cable networks such as the Golf Channel and E! when paired with the NBCU cable channels such as Bravo, USA, and CNBC.
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