Comcast reported third-quarter net income of $2.6 billion on revenue of $16.8 billion, up 4 percent year over year. Revenue from cable operations spiked 5.2 percent, with TV subscribers decreasing 81,000 for the quarter, down 36 percent from the 127,000 lost in Q3 2013.
The head of the Senate Judiciary Committee has asked Comcast to permanently ban Internet fast lanes, putting further pressure on the conglomerate as it tries to get its increasingly controversial purchase of Time Warner Cable through regulatory processes.
Striking a defensive tone eerily similar to another FCC petition issued by Comcast three weeks ago, AT&T and DirecTV tried to distance their proposed merger from that being undertaken by Comcast and Time Warner Cable.
A combined AT&T-DirecTV will be good for rural customers, effectively helping bridge the digital divide, but it has no connection with Comcast's proposed purchase of Time Warner Cable, AT&T argues in a new filing with the FCC.
With one of its members referring to Comcast as "the worst company in America for customer service," the city council for Worcester, Mass., has voted 8-3 against a measure that would transfer control of the city's cable subscribers from Charter to Comcast.
Comcast won a $7.5 million award against Sprintafter a jury agreed that the wireless company violated Comcast's patents for VoIP and other telecommunications technologies. FierceWireless has the complete story here.
Comcast has decided not to appeal a ruling by a bankruptcy judge on the valuation of regional sports network CSN Houston, clearing the sale of the network to DirecTV and AT&T.
Comcast won a $7.5 million award against Sprint after a jury agreed that Sprint violated Comcast's patents for VoIP and other telecommunications technologies. The trial and the ruling is likely going to be just one of many in a long, drawn-out legal battle between the one-time partners.
Time Warner investors were the first to hear the news from HBO Chairman and CEO Richard Plepler: The premium subscription service, which currently offers an authentication-only streaming service, HBO Go, to cable subscribers, will launch a standalone over-the-top service in the United States next year.
Comcast is leading a team of Chinese investors who will collectively spend about $3.3 billion to build a new Universal theme park in Beijing. According to a statement, the Chinese government has approved development of the 300-acre park, which will eventually be expanded to 400 acres.