Comcast to FCC: We've Overdelivered on NBC PromisesFiles Second-Year Status Report on Voluntary Deal Conditions 3/01/2013 10:11 AM Eastern
Comcast filed its two-year NBCU deal compliance report at the FCC on Thursday, and Comcast executive vice president David Cohen says the takeaway is that the company has met, or exceeded, all its obligations in the transaction.
In January 2011, the FCC approved the $30 billion joint venture with GE. The deal combined the nation's largest cable operator with a studio library and cable channel content. It created a company majority owned by Comcast (51%) that pooled all of NBCU's media content with most of Comcast's, with Comcast retaining full control of its cable and Internet assets. Comcast has the option of buying out NBCU parent GE's 49% interest. Comcast has recently signaled it will exercise its option to buy GE's stake.
The report outlines compliance with the voluntary conditions agreed to by Comcast in order to secure government approval of the deal.
That includes the two 2012 launches of minority-owned independent networks, Aspire and Baby First Americas; $24 million in PSAs on various topics; 1,000 more kids VOD choices than were required by year three; and overdelivering on the pledge of an additional 1,000 hours of local news and information on its NBC-owned TV stations. Comcast says it has increased the hours by 1,700 above pre-transaction levels.
Comcast also had broadband deployment and adoption requirements. The company says it has expanded its 464 miles over the annual 1,500 mile requirement by 464 miles, and extended its broadband plant to 221,891 more homes for a cumulative total of 421,767 in two years, already topping its three-year commitment.