Comcast Corp Stock

Comcast Corporation operates as a global media and technology company. The company reaches customers, viewers and guests worldwide through the connectivity and platforms services its provides and the content and experiences it creates.

The company operates two primary businesses:

Connectivity & Platforms: Contains the company’s broadband, wireless, video and wireline voice businesses in the United States, the United Kingdom and Italy (collectively, the Connectivity & Platforms markets). Also includes the operations of the company’s Sky-branded entertainment television networks in the United Kingdom and Italy. The company’s Connectivity & Platforms business is reported in two segments, Residential Connectivity & Platforms and Business Services Connectivity.

Content & Experiences: Contains the company’s media and entertainment businesses that produce and distribute entertainment, sports, news and other content for global audiences and that own and operate theme parks and attractions in the United States and Asia. The company’s Content & Experiences business is reported in three segments, Media, Studios and Theme Parks.

Residential Connectivity & Platforms segment

The company’s Residential Connectivity & Platforms segment primarily includes residential broadband and wireless services (collectively, Residential Connectivity); and residential and business video services, sky-branded entertainment television networks and advertising. The company offers services to customers individually and as bundled services at a discounted rate.

Residential Connectivity

Broadband

The company offers broadband services in the United States over its hybrid fiber-optic and coaxial (HFC) network, as well as through direct fiber-to-the-premises connections for certain customers, and internationally in the United Kingdom and Italy by leveraging networks owned by third-party telecommunications providers.

The company’s domestic broadband services have a range of service levels that include downstream speeds up to 1.2 gigabits per second across nearly its entire footprint on its HFC network. In connection with a multiyear network transformation plan, in 2022 the company began rolling out downstream speeds of up to 2 gigabits per second, which are available to approximately a third of its footprint on its HFC network, and in 2023, the company began deploying DOCSIS 4.0 in select markets. DOCSIS 4.0 enables the company to deliver multigigabit symmetrical broadband speeds (i.e., comparable upstream and downstream speeds) to its domestic customers. The company also deploys fiber-to-the-premises, with symmetrical speed offerings ranging up to 10 gigabits per second to customers who request that service, subject to local construction constraints. As part of the company’s low-income broadband adoption program, the company offers qualifying domestic customers high-speed broadband services at discounted rates through its Internet Essentials and Internet Essentials Plus services, with downstream speeds of up to 50 and 100 megabits per second, respectively. The company also offers a separate service providing monthly access to its expanding network of secure Wi-Fi hotspots.

The company’s international broadband services primarily include fiber-to-the-cabinet offerings, and increasingly fiber-to-the-premises offerings. As part of its domestic and international broadband services, the company offers its advanced, proprietary wireless gateways to customers that combine an internet modem with a Wi-Fi router to deliver reliable internet speeds and enhanced coverage through an in-and-out-of-home Wi-Fi network. In addition, customers may personalize and manage their Wi-Fi network and connected home with the company’s mobile apps and online portal. Broadband customers have access to its expanding network of secure Wi-Fi hotspots.

The company also offers Xumo Stream Box devices to its domestic broadband customers, which enable customers to consume content over the internet rather than via linear television. The Xumo Stream Box includes integrated search functionality and a voice-activated remote control. The Xumo Stream Box also provides access to and integration of streaming content and music from certain internet-based apps, including direct-to-consumer streaming services (DTC streaming services), such as Peacock and third-party services Disney+ and Netflix, and certain pay-per-view and video on demand programming available over the internet. The company earns commission revenue from the sale of certain DTC streaming services through the Xumo Stream Box and its other video platforms.

Wireless

The company offers wireless services for wireless handsets, tablets and smart watches (wireless devices) to residential customers in the United States and the United Kingdom using mobile virtual network operator (MVNO) rights. The company’s domestic wireless services are offered over Verizon’s wireless network and its existing network of secure residential, outdoor and business Wi-Fi hotspots, and are offered initially only as part of its bundled service offerings to customers that subscribe to its broadband services. The company’s wireless services in the United Kingdom are offered primarily using an arrangement to access network assets from Virgin Media O2.

Video

The company offers video services to residential and business customers primarily through its X1 platform in the United States over its HFC network, and through its Sky Q platform internationally in the United Kingdom and Italy using a combination of satellite transmission and broadband connections. X1 and Sky Q are cloud-based platforms that provide integrated search functionality leveraging set-top boxes and a voice-activated remote control. The integrated features operate across content in customers’ video service packages and content from internet-based streaming services that customers may access in a manner similar to the company’s Xumo Stream Box. The company offers a range of video packages from basic linear service to full linear service, which typically include free-to-air networks and a range of other linear television networks, including premium, sports and news networks. The company’s international video packages also include Sky-branded entertainment television networks that offer entertainment, premium movie and free-to-air programming, as well as Sky Sports networks that are part of its Media segment. Customers may also subscribe to digital video recorder (DVR) services or access its video on demand services with programming that is available for no additional cost or to rent or buy digitally. These viewing options are also available through its mobile apps and online portals.

The company also offers DTC streaming services marketed using the NOW brand, with an offering in the United States that launched in 2023. NOW services provide video content over the internet and do not require a set-top box. The company’s international NOW service offerings include packages for monthly access to entertainment, sports and movies programming, as well as daily pass options for sports programming. The company’s domestic NOW TV service is only offered to residential broadband customers and includes monthly access to a variety of linear television networks; entertainment and movie programming; integrated access to free streaming channels from Xumo Play, NBC and Sky; and access to the ad-supported tier of Peacock.

The company also offers video services in the United Kingdom and Italy over a broadband connection without the need for a satellite dish. These services have an operating system similar to Sky Q and are offered to customers that purchase its Sky Glass smart televisions or through Sky Stream, which leverages a streaming device and Wi-Fi.

Advertising

The company generally receives an allocation of scheduled advertising time as part of its distribution agreements with domestic cable networks that its advertising business sells, and the company also sells advertising on its Sky-branded entertainment television networks, on its digital platforms, and where the company represents the advertising sales efforts of third parties both domestically and internationally. Additionally, the company offers technology, tools, data-driven services and marketplace solutions to customers in the media industry to facilitate effective engagement of advertisers with their target audiences.

Other

The company offers residential wireline voice services primarily using interconnected Voice over Internet Protocol (VoIP) technology, and the company offers residential security and automation services. The company also licenses its technology platforms to other multichannel video providers and distribute certain of its Sky-branded entertainment television networks to third-party video service providers.

Business Services Connectivity segment

The company’s Business Services Connectivity segment consists of its service offerings for small business locations in the United States, which include broadband, wireline voice and wireless services, as well as its service offerings for medium-sized customers and larger enterprises. Certain business customers subscribe to its video services, and the associated revenue is included in its Residential Connectivity & Platforms segment.

The company offers broadband services primarily over its HFC network with a range of service levels that include downstream speeds up to 1.25 gigabits per second, as well as fiber-based services that deliver symmetrical speeds ranging up to 100 gigabits per second. The company has also launched small business connectivity service offerings in the United Kingdom.

The company’s small business broadband, wireline voice and wireless service offerings are similar to those provided to its residential customers and additionally include cloud-based cybersecurity services, wireless backup connectivity, advanced Wi-Fi solutions, video monitoring services and other cloud-based services.

The company’s medium-sized and enterprise customer offerings also include ethernet network services, which connect multiple locations and provide higher downstream and upstream speed options, advanced voice services, and a software-defined networking product. The company’s larger enterprises may also receive support services related to Wi-Fi networks, router management, network security, business continuity risks and other services. These services are primarily provided to Fortune 1000 companies and other large enterprises with multiple locations both within and outside of the company’s distribution footprint, where it provides coverage outside of its service areas through agreements with other companies to use their networks.

Network and Technology

The segments within the company’s Connectivity & Platforms business use its HFC network in the United States, which is sufficiently flexible and scalable to support the company’s future technology requirements and enables it to continue to grow capacity and capabilities over time. This network provides the two-way transmissions required to provide connectivity services and interactive video and entertainment services through its platforms, and consists primarily of headends, coaxial and fiber-optic cables owned or leased by it and equipment, such as lasers, routers, switches and content distribution servers. Across nearly its entire domestic footprint, the company leverages DOCSIS 3.1 to offer downstream broadband speeds up to over a gigabit per second to residential and business customers. The company also deploys fiber-to-the-premises, with symmetrical speed offerings ranging up to 10 gigabits per second to customers who request that service, subject to local construction constraints. The company offers domestic wireless services using an MVNO agreement that allows it to offer services using Verizon’s wireless network along with its existing network of Wi-Fi hotspots across its HFC network.

The company continues to evolve and enhance the capabilities of its domestic network. In connection with a multiyear network transformation plan, in 2022 the company began rolling out downstream speeds of up to 2 gigabits per second to its residential customers, which are available to approximately a third of the company’s footprint on its HFC network, and in 2023, the company began deploying DOCSIS 4.0 in select markets. DOCSIS 4.0 enables it to deliver multigigabit symmetrical broadband speeds over its existing HFC network. Additionally, as part of its network evolution, the company engineering teams have been virtualizing and automating many core network functions using various technologies to expand capacity, increase operating efficiency, and identify and fix network issues proactively before they affect its customers. The company continues to extend its network’s reach to new homes and businesses within its existing service areas, as well as edging-out to new service areas to expand the number of homes and businesses ‘passed’, with homes and businesses considered passed if the company can connect them to its network without further extending the transmission lines. The company’s investment in virtualizing the network enables it to maintain network reliability and operational efficiency regardless of whether it connect a residence using either fiber or its HFC network. The company also has begun to partner with local, state and federal agencies when possible to provide services to unserved and underserved communities leveraging governmental subsidies where available.

The components of the company’s domestic network require periodic maintenance and replacement and are primarily located on owned and leased properties, and in locations under agreements with local public utilities and municipalities. The company operates national and regional data centers with equipment that is used to provide its services and maintain network operations centers with equipment necessary to monitor and manage the status of its services and network.

The company international services are offered leveraging third-party networks, as well as its own core fiber network for broadband and wireline voice services in the United Kingdom. The related operating plant and equipment used to provide the company’s video and connectivity services include leased satellite system signal receiving, encoding and decoding devices, and owned and leased headends and distribution networks, including coaxial, fiber-optic cables and other related equipment. For a majority of international customers, the company’s video platform is delivered via one-way digital satellite transmission that uses satellites leased from third parties for the distribution of television networks, augmented by a set-top box and high-speed, two-way broadband connectivity. The company offers broadband and wireline voice services primarily using BT Openreach’s network in the United Kingdom and Fastweb and Open Fiber’s networks in Italy, and in many cases, the fee for the company to access these networks is on regulated terms. The ranges of service levels and speeds the company offers are dependent upon the capabilities and reach of these third-party networks. The company offers wireless services in the United Kingdom using a combination of Virgin Media O2’s network and its own mobile core network.

The company’s Connectivity & Platforms business engineering teams continue to focus on technology initiatives to develop and deploy next-generation media, content delivery, content aggregation and streaming platforms that support X1, Sky Q, NOW, Sky Glass, Sky Stream, Xumo and its cloud DVR technology. These platforms are based on the company’s global technology platform and integrate linear television networks, owned and third-party DTC streaming services and other internet-based apps, and on demand programming in a unified experience with voice-activated remote control search and interactive features. The company also continues to focus on leveraging its own cloud network services to deliver video and advanced search capabilities. The company’s Connectivity & Platforms business also pursues technology initiatives related to broadband and wireless services that leverage its global technology platform. The company provides its customers with in-and-out-of-home Wi-Fi, the ability to manage their Wi-Fi network and connected home with its mobile apps and online portal, advanced security technology, and other features.

Programming

To offer video services, Residential Connectivity & Platforms licenses substantial amounts of linear television programming from third parties and from the company’s Media segment. The fees associated with these distribution agreements are generally based on the number of subscribers receiving the television network programming and a per subscriber fee, although programming expenses for certain television networks are based on a fixed fee. Additionally, certain of the company’s agreements include the rights to offer such programming through multiple delivery platforms, such as through its on demand services, online portal, mobile apps, the Xumo Stream Box and its NOW and NOW TV streaming services.

The programming on the company’s Sky-branded entertainment television networks includes content licensed from third parties and from its Studios segment, including certain original content. The company’s most significant commitments for the licensing of film and television entertainment content include exclusive rights with Paramount, Warner Bros. and its Studios segment.

Other Sources of Supply and Operations

The company purchases from a limited number of suppliers a significant amount of customer premise equipment, including wireless gateways and set-top boxes, network equipment and services to provide its broadband and video services to residential and business customers. The company also purchases from a limited number of suppliers a significant number of wireless devices. The company uses a limited number of vendors to provide customer billing for its residential and business customers.

The company’s technical services groups perform various tasks, including installations, plant maintenance and upgrades to its domestic HFC network, and servicing and upgrades of customer premise equipment. The service vehicles used by the company’s technical services groups are primarily owned. The company’s customer service teams provide primarily 24/7 call-answering capability and other services and also offer its services to residential and business customers.

Competition

Residential Connectivity & Platforms

Wireless

The company competes with national and regional wireless service providers in the United States, including AT&T, T-Mobile and Verizon, and wireless service providers in the United Kingdom that offer wireless service on both a stand-alone basis and with other services as bundled offerings.

Video

The company competes with a number of companies offering video services in the Connectivity & Platforms markets, including:

DTC streaming and other over-the-top (OTT) service providers and aggregators, including subscription-based services, such as Disney+ and Netflix, that offer online services that enable internet streaming and downloading of movies, television shows and other video programming.

Virtual multichannel video providers, such as Hulu + Live TV and YouTube TV, that offer streamed linear television networks.

Free ad-supported television services.

Companies that offer streaming devices that access and integrate streaming content.

Seasonality

Results in the company’s Residential Connectivity & Platforms segment are impacted by the seasonal nature of residential customers receiving its services, including in college and vacation markets in the United States, and by the timing of the European football seasons in its international markets, which generally result in negative impacts to net customer relationship additions/(losses) in the second quarter of each year.

Similar to seasonal and cyclical variations in the company’s Media segment, advertising revenue is subject to cyclical patterns and changes in viewership levels, driven by timing of the winter holiday season, political campaigns, sports seasons and when programming is aired.

Content & Experiences Business

Media segment

The company operates its Media segment as a combined television and streaming business, which primarily includes NBCUniversal’s national and regional cable networks; NBC and Telemundo broadcast networks and owned local broadcast television stations; Peacock DTC streaming service; and international television networks, including Sky Sports networks in the United Kingdom and Italy.

The company distributes a variety of programming on its linear television networks and streaming services to appeal to consumers with varying preferences across demographics and geographic areas.

The company sells advertising on its linear television networks, Peacock and other digital properties. The company’s advertising sales are affected by the prices it charges for each advertising unit, which are generally based on the size and demographics of its viewing audiences, audience ratings on its television networks, the number of advertising units it can place in its programming and on its digital properties, and its ability to sell advertising across its television and streaming business.

The company receives fees from the distribution of its television networks to traditional multichannel video providers, such as its Residential Connectivity & Platforms segment, and virtual multichannel video providers that offer streamed linear television networks. The company’s distribution agreements are generally multiyear, with revenue based on the number of subscribers receiving the programming on its television networks and a per subscriber fee, although revenue for certain of its television networks is based on a fixed fee.

The company also generates revenue from the licensing of its owned content and technology and from various digital properties.

Domestic Cable Networks

The company operates a diversified portfolio of cable networks operating predominantly in the United States.

The company’s regional sports networks serve approximately 15 million households across the United States, including in markets, such as Boston, Chicago, Philadelphia, Sacramento and San Francisco.

Domestic Broadcast Networks

NBC

The NBC network features original entertainment, news and sports programming that reaches viewers in virtually all the U.S. television households through more than 200 affiliated stations across the United States, including its 11 owned NBC local broadcast television stations. The NBC owned local broadcast television stations include stations in 8 of the top 10 general markets and collectively reached approximately 35 million U.S. television households as of December 31, 2023, representing approximately 28% of the U.S. television households. In addition to broadcasting the NBC network’s national programming, local broadcast television stations deliver local news, weather, and investigative and consumer reporting.

Telemundo

The Telemundo network, a Spanish-language broadcast network, features original entertainment, news, live specials and sports programming that reaches viewers in over 95% of all the U.S. Hispanic television households through 120 affiliated stations, including the company’s 30 owned Telemundo local broadcast television stations, and its national feed. The Telemundo owned local broadcast television stations include stations in all of the top 20 U.S. Hispanic markets and collectively reached approximately 72% of the U.S. Hispanic television households as of December 31, 2023. In addition to broadcasting the Telemundo network’s national programming, local broadcast television stations deliver local news, weather, and investigative and consumer reporting. The company also owns an independent Telemundo station serving the Puerto Rico television market.

Peacock

Peacock is the company’s premium DTC streaming service, featuring NBCUniversal and third-party content. Programming choices include exclusive Peacock originals, NBC, Bravo and Telemundo shows, news, late-night comedy, live sports and a library of television shows and movies, as well as several live channels. The service is available on internet-connected devices and offered through two subscription-based tiers: an ad-supported tier and a tier featuring the same content ad-free, with certain limited exceptions. The ad-free tier also allows customers to download and watch select programming offline and provides customers with a live stream of their local NBC affiliate stations. The company offers Peacock directly to customers or through wholesale arrangements and select partnerships as part of certain video and other platforms in the United States.

International Networks

The company operates a diversified portfolio of international television networks, including premium sports networks under the Sky Sports brand in the United Kingdom and Italy, with a majority of networks dedicated to a specific sport, such as European football. The company also operates several NBCUniversal international television networks globally, including CNBC International, Studio Universal, Telemundo International and Universal TV.

Programming

The company’s television networks and Peacock include content licensed from its Studios segment and from third parties, as well as content produced by Media segment businesses, such as live news and sports programming and certain original content, including late-night comedy for NBC and original telenovelas for Telemundo.

The company has various multiyear contractual commitments for the licensing of content, including contracts related to broadcast and/or streaming rights for sporting events. The company generally seeks to include in its sports rights agreements the rights to distribute content on one or more of its television networks and on digital properties, including Peacock.

Studios segment

This segment primarily includes its NBCUniversal and Sky film and television studio production and distribution operations. The company’s studio production facilities primarily include its owned Universal City location in Los Angeles, California and its leased studios in Atlanta, Georgia and in Elstree, United Kingdom, which were both opened in 2023. Revenue is generated primarily from licensing the company’s owned film and television content in the United States and internationally and from the worldwide distribution of its produced and acquired films for exhibition in movie theaters. The company also generates revenue from the sale of physical and digital home entertainment products, as well as the production and licensing of live stage plays and the distribution of content produced by third parties.

Film Studios

The company’s film studios develop, produce, acquire, market and distribute filmed entertainment worldwide. The company’s films are produced primarily under the following names: Universal Pictures; Illumination; DreamWorks Animation; Focus Features; and Working Title.

The majority of the company’s films are initially distributed for exhibition in movie theaters, while other films are distributed direct-to-video. After their initial release, the company distributes films globally to different customers over multiple licensing windows. The company licenses films, including recent films and selections from its film library, which consists of more than 6,500 movies in a variety of genres, to linear television networks and DTC streaming service providers, and to video on demand and pay-per-view services provided by multichannel video providers. This includes licenses to the company’s Media and Residential Connectivity & Platforms segments. Certain films are also licensed to its Media segment and made available for viewing on Peacock on the same date as the theatrical release. The company also distributes films globally through the sale of physical and digital home entertainment products.

The company develops and produces films both alone and jointly with other studios or production companies. In certain cases, the company has also entered into film co-financing arrangements with third party studios and non-studio entities to jointly finance or distribute certain of its film productions. These arrangements can take various forms, but in most cases involve the grant of an economic interest in a film to an investor. Investors generally assume the full risks and rewards of ownership proportionate to their ownership in the film.

In connection with film studio productions, the company typically owes ‘residuals’ payments to individuals hired under collective bargaining agreements, which are generally calculated based on post-theatrical or content licensing revenue. The company also typically owes ‘participations’ payments to creative talent, to third parties under co-financing agreements and to other parties involved in content production, which are generally based on the financial performance of the content.

The company markets and distributes its films worldwide and it also acquires distribution rights to films produced by third parties, which may be limited to particular geographic regions, specific forms of media or certain periods of time.

Television Studios

The company’s television studios develop, produce and distribute original content, including scripted and unscripted television series. It also produces television content jointly as co-producers with third-party studios and production companies. The company’s television studios produce content primarily under the following names: Universal Television; Universal Content Productions; Universal Television Alternative Studio; Universal International Studios; and Sky Studios.

The company’s original content is primarily initially licensed to linear television networks, as well as to DTC streaming service providers, including those in its Media and Residential Connectivity & Platforms segments. The company also licenses content after its initial airing, license older television content from its television library, and distribute owned and acquired content globally through the sale of physical and digital home entertainment products. The production and distribution costs related to original television content generally exceed the revenue generated from the initial license, which means that obtaining additional licenses following the initial license is critical to the content’s financial success. Similar to the company’s film studios, it typically owes residuals and participations payments in connection with television studio productions.

Theme Parks segment

The company’s Theme Parks segment primarily includes the operations of the following Universal theme parks:

Universal Orlando Resort: Includes two theme parks, Universal Studios Florida and Islands of Adventure, and the company’s water park, Volcano Bay, all of which are located in Orlando, Florida. Universal Orlando Resort also includes Universal CityWalk Orlando, a dining, retail and entertainment complex, and features on-site themed hotels in which the company owns a noncontrolling interest.

Universal Studios Hollywood: Includes a theme park located in Hollywood, California and Universal CityWalk Hollywood.

Universal Studios Japan: Includes a theme park located in Osaka, Japan.

Universal Beijing Resort: Includes the Universal Studios Beijing theme park, as well as Universal CityWalk Beijing and on-site themed hotels, all of which are located in Beijing, China. Universal Beijing Resort is owned by the company and a consortium of Chinese state-owned companies.

The company’s Theme Parks segment properties are primarily owned with certain properties under lease, including land in Beijing, China and Osaka, Japan. The company has invested and continue to invest significantly in existing and new theme park attractions, hotels and infrastructure, as well as in new destinations and experiences, including an additional theme park at Universal Orlando Resort named Universal’s Epic Universe that is expected to open in 2025, a smaller-scale Universal theme park in Frisco, Texas designed specifically for younger audiences and a year-round horror entertainment experience in Las Vegas, Nevada.

The company also licenses the right to use the Universal Studios brand name and other intellectual property and provide other services to third parties, including the party that owns and operates the Universal Studios Singapore theme park on Sentosa Island, Singapore.

Corporate and Other

The company’s other business interests reported in Corporate and Other consist primarily of its Sky-branded video services and television networks in Germany, Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania, and Xumo, the company’s consolidated streaming platform joint venture with Charter Communications formed in June 2022. Xumo is focused on developing and offering a streaming platform on a variety of devices, including Xumo TV smart televisions, which have an operating system that leverages the company’s global technology platform, and also operates the Xumo Play streaming service.

Competition

Media

The company’s Media segment competes for viewers’ attention and audience share with all forms of programming provided to viewers, including television networks; DTC streaming and other OTT service providers; local broadcast television stations; physical and digital home entertainment products; video on demand and pay-per-view services; online activities, such as social networking and viewing user-generated content; gaming products; and other forms of entertainment, news and information.

Legislation and Regulation

The Communications Act of 1934, as amended (the Communications Act), and Federal Communications Commission (FCC) regulations and policies affect significant aspects of its communications businesses in the United States.

The FCC frequently considers imposing new broadband-related regulations, such as those relating to an Open Internet, and from time to time, imposing new regulatory obligations on internet service providers (ISPs), such as the company.

In the United Kingdom, Sky’s electronic program guide (EPG) and conditional access (CA) services are provided to other programming providers on fair, reasonable and nondiscriminatory terms, among other things, so that those providers’ content is available on the Sky satellite platform via the EPG on set-top boxes.

The company is occasionally subject to enforcement actions and investigations at the FCC and other federal, state and local agencies, as well as foreign governments and regulatory authorities, which can result in fines or being subject to sanctions.

In the United Kingdom, Sky’s electronic program guide (EPG) and conditional access (CA) services are provided to other programming providers on fair, reasonable and nondiscriminatory terms, among other things, so that those providers’ content is available on the Sky satellite platform via the EPG on set-top boxes. Sky also has voluntarily committed to the United Kingdom’s communications regulator, the Office of Communications (Ofcom) to provide access control services to third parties that enable them to provide interactive services. Sky is subject to similar EPG and CA obligations in Germany.

The company provides voice services using VoIP technology. The FCC has adopted a number of regulations for providers of nontraditional voice services, such as the company’s, including regulations relating to privacy of customer proprietary network information, local number portability duties and benefits, disability access, E911, law enforcement assistance, outage reporting, Universal Service Fund contribution obligations, rural call completion, customer equipment back-up power, robocall mitigation, service discontinuance and certain regulatory filing requirements.

The company offers a wireless voice and data service primarily using its MVNO rights to provide the service over Verizon’s wireless network. MVNOs are subject to many of the same FCC regulations as facilities-based wireless carriers, such as E911 services and local number portability, as well as certain state or local regulations.

The U.S. states and localities, and various regulatory authorities, actively regulate other aspects of the company’s businesses, including its Studios and Theme Parks businesses, accessibility to its video and voice services and broadcast television programming for people with disabilities, customer service standards, inside wiring, cable equipment, pole attachments, universal service fees, regulatory fees, public safety, telemarketing, leased access, indecency, loudness of commercial advertisements, advertising, political broadcasting, sponsorship identification, Emergency Alert System, equal employment opportunity and other employment-related laws, environmental-related matters, the company’s equipment supply chain, and technical standards relating to the operation of cable systems and television stations.

History

Comcast Corporation was founded in 1963. The company was incorporated under the laws of Pennsylvania in 2001.