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SBJ/June 18 - 24, 2001/Special Report
Comcast Corp.
Published June 18, 2001
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Comcast Corp. Introduction: Comcast is one of those media titans whose tentacles spread far into sports. It owns the Philadelphia 76ers, Flyers, the First Union Center and First Union Spectrum. It owns three minor league baseball teams and a concessionaire, as well as three regional sports networks, Speedvision and interests in Outdoor Life and The Golf Channel. Problem is, even though Comcast is public, it's tough to glean much information about these properties from the cable company's securities filing. The bulk of Comcast's revenue still comes from cable, not sports. But sometimes there are great nuggets. Deep in its annual report, Comcast disclosed it paid $137.8 million to increase its percentage in The Golf Channel, previously disclosed only as an increase from 40.1 percent to 60.5 percent. That would value the whole station at $682 million. It also would mean that Comcast would have paid, based on this valuation, around $211 million to acquire Fox's 30.9 percent interest in the channel, a transaction announced May 22. CEO*: Ralph J. Roberts
* Class B shares have 1/15 the voting rights of Class A shares. Board of directors: • Ralph J. Roberts — Owns 809,120 Class A shares, or 3.7%, and 5,762,802 class A special shares • Julian A. Brodsky — Owns 234,146 Class A shares, or 1.1%, and 3,137,366 Class A special shares • Brian L. Roberts — Owns 138,269 Class A shares; 12,390,861 Class A special shares, or 1.4%; and 9,444,375 Class B shares, or 100% • Decker Anstrom — Owns no shares • Sheldon M. Bonovitz — Owns 12,080 Class A shares and 212,334 Class A special shares • Joseph L. Castle II — Owns 375 Class A shares and 32,369 Class A special shares • Felix G. Rohatyn — Owns 809,120 Class A shares, or 3.7%, and 5,762,802 Class A special shares • Bernard C. Watson — Owns 37,800 Class A special shares • Irving A. Wechsler — Owns 98,581 Class A shares and 592,427 Class A special shares • Anne Wexler — Owns 39,300 Class A special shares Corporate officers: • Julian A. Brodsky, vice chairman (2000 salary: $759,692; bonus: $379,846; other compensation: $27,358; options: 60,000) • Brian L. Roberts, president (2000 salary: $1,050,000; bonus: $1,737,000; other compensation: $310,474; options: 4,000,000) • Lawrence S. Smith, executive vice president (2000 salary: $759,692; bonus: $449,962; other compensation: $2,403; options: 800,000) • John R. Alchin, treasurer (2000 salary: $639,141; bonus: $348,071; other compensation: $40,319; options: 600,000)
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