Comcast Corporation Statement on the Spectrum It Sold and Purchased in the FCC’s Broadcast Incentive Auction
28 April 2017 - 8:00AM
Business Wire
Comcast Corporation (Nasdaq: CMCSA) today issued the
following statement after the conclusion of the quiet period
associated with the FCC’s Broadcast Incentive Auction:
“We are very pleased with the outcome of the FCC’s Broadcast
Incentive Auction. In the Reverse auction, NBC sold spectrum at
attractive prices in New York (NBC - WNBC), Philadelphia (Telemundo
- WWSI), and Chicago (Telemundo - WSNS) and will receive total
proceeds of $481.6 million. Additionally, with the purchase of $1.7
billion of spectrum that covers 88 percent of our footprint and
most of the footprint of each of our top 25 markets, Comcast made a
strategically compelling investment at historically low prices. We
have no current plans for the acquired spectrum and note that the
spectrum will not be cleared by the FCC and available for use for
several years. The launch and growth of our Xfinity Mobile product
is not dependent on this purchased spectrum.”
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and
technology company with two primary businesses, Comcast Cable and
NBCUniversal. Comcast Cable is one of the nation’s largest video,
high-speed internet, and phone providers to residential customers
under the XFINITY brand, and also provides these services to
businesses. It also provides wireless and security and automation
services to residential customers under the XFINITY brand.
NBCUniversal operates news, entertainment and sports cable
networks, the NBC and Telemundo broadcast networks, television
production operations, television station groups, Universal
Pictures and Universal Parks and Resorts.
Visit www.comcastcorporation.com for more
information.
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version on businesswire.com: http://www.businesswire.com/news/home/20170427006881/en/
Comcast CorporationJohn Demming,
215-286-8011john_demming@comcast.comorJenni Moyer,
215-286-3311jenni_moyer@comcast.com
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