Comcast CEO Mulls Next Big Move in Shifting Media Landscape
It’s about that time when Roberts tends to do a deal. Gaming and streaming could be in the cards.
Brian Roberts, chairman and chief executive officer of Comcast Corp.,
Photographer: David Paul Morris/BloombergComcast Corp. Chief Executive Officer Brian Roberts has a penchant for lining up a huge deal around every five years or so. It was 2018 the last time he made a big acquisition, and Wall Street is ready for his next dramatic move.
The stakes have arguably never been higher for the media and communications giant: Comcast is losing cable TV subscribers at record rates. Growth in its broadband internet business has dried up amid fierce competition from the likes of Verizon Communications Inc. and T-Mobile US Inc. The NBCUniversal division has been shaken by the departures of CEO Jeff Shell, who was ousted last month amid sexual harassment allegations, and ad chief Linda Yaccarino, who jumped ship to run Twitter. The likely sale of streaming service Hulu looms large and Hollywood writers are on strike. Comcast’s shares are down about 32% since peaking nearly two years ago.