Comcast Corporation (NASDAQ:CMCSA) And The Spinco Story

1054

Dallas, Texas 05/27/2014 (FINANCIALSTRENDS) – Comcast Corporation (NASDAQ:CMCSA) and Charter Communications announced that the former Insight Communications co-founder and Chief Executive Officer & 40-year cable-industry veteran- Michael S. Willner has now agreed to serve as the President & the Chief Executive Officer at “SpinCo,”. The latter is the new cable-company that is to be spun-off from CMCSA on completion of the merger between the company and TWC & the Comcast – Charter transactions. Willner will now oversee operations at SpinCo, which will serve around 2.5M customers across Alabama, Kentucky, Indiana, Michigan, Tennessee, Minnesota, & Wisconsin.

The Company Board

 SpinCo will also have a 9-member Body, 3 whom will then be appointed by Charter, and will include Charter President & CEO, Tom Rutledge. He will serve as the board’s non-executive Chairman. CMCSA will appoint 3 of the remaining 6 members of the company board & will also select 3 more from the list that will be provided by Charter. The 6 board members will all be independent of Charter & Comcast. In addition to this, ,Charter will also have the services agreement with SpinCo, that will help both the companies achieve much greater scale as well as regional efficiencies.

 Quarterly Dividend

 Comcast Corporation (NASDAQ:CMCSA) is a front-running cable, entertainment & communications company. It announced that the BOD has declared a quarterly-dividend of $0.225/ share on the company’s common-stock. This quarterly dividend is now payable on 23 July 2014 to the shareholders who are of record at the close of business on 2 July 2014.Willner was the co-founder & the CEO at Insight Communications from 1985- 2012 which was when Insight had been sold off to Time Warner Cable. Under his leadership, Insight Communications also became 1 of the most highly-regarded operating companies in that industry. He started his career in the year 1974 from Vision Cable Communications.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.