Comcast Invests $4B In New Company Led By Michael Angelakis

Comcast Corp., the biggest U.S. cable operator, will invest $4 billion in a new “entrepreneurial” company led by its CFO.

Michael Angelakis will lead the as yet-unnamed new company as CEO. Comcast is in the process of searching for a new CFO.

“We believe the ability to establish entrepreneurial ventures that partner with and participate in the growth of innovative companies can be an important driver of strategic and financial value creation for our company,” stated Brian L. Roberts, chairman/chief executive officer of Comcast.

The new company will have total capital commitments of up to $4.1 billion -- $4 billion will be invested by Comcast, and at least $40 million will be invested personally by Angelakis. The Angelakis-led company will have an exclusive, 10-year partnership with Comcast as sole outside investor.

Angelakis has been working closely on the Comcast deal to acquire Time Warner Cable, which is nearing completion.

“As we enter the final phase of the Time Warner Cable transaction, this is a great time to begin a transition, and I am excited to start this new, entrepreneurial company,” said Angelakis. “Our industry is dynamic, and I am very excited and optimistic about the many opportunities available to Comcast.”

1 comment about "Comcast Invests $4B In New Company Led By Michael Angelakis".
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  1. Robert Faitz from ASM Management , March 31, 2015 at 2:18 p.m.

    Comcast and TWC should have reinvented themselves prior to this potential merger. Both are lowly rated for customer service such that a merger just makes a larger pool of combined problems. For the consumer that doesn't fare well. Year after year both have been at the bottom for their QOS in both direct contact with subscribers and indirectly due to loss of signals. It this new giant is going to compete on an improved level I can only hope that Mr. Angelakis is able to see the light at the bottom of this merger. Best have someone on board that doesn't look at the ROI but how to better achieve it due to improved service and a huge change in their operational elements leading to latter and annual disgruntled consumer.

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