The Comcast family of companies and The Comcast Foundation today announced they will donate $10 million worth of advertising time on its cable systems and $50,000 in cash to the American Red Cross to support relief efforts in areas devastated by Hurricane Katrina. The companies are continuing to identify ways in which to support the relief efforts, and will announce those additional activities next week. Comcast also plans to dedicate ON DEMAND programming in September to air American Red Cross updates, benefit concerts and information on how the public can help relief efforts.
"Comcast and its many entities are committed to providing a combination of financial support and resources unique to the cable, entertainment and sports industries to assist with the relief efforts in the aftermath of Hurricane Katrina. Today's announcement is a first step towards rallying our resources from across the country," said David Cohen, Executive Vice President of Comcast. "We are feeling the personal impact of this tragedy as we have employees and customers in many of the communities that were devastated, and we appreciate the dedication of the American Red Cross as they work to help the many victims of this terrible natural disaster."
Local Comcast cable systems across 35 states and the District of Columbia are joining in the hurricane relief and recovery efforts. Comcast employees are purchasing gift cards for food and supplies to assist their fellow employees living in areas of Alabama and Mississippi that were affected by Hurricane Katrina, and can make donations to the American Red Cross through a link on the Company's Intranet site. Local employees are participating directly on the ground by providing technical support, trucks and volunteers to aid the relief effort.
Comcast cable systems around the country will air Public Service Announcements from the American Red Cross. These Public Service Announcement spots are designed to help educate the public on disaster and emergency preparedness as well as to help raise awareness of the need for monetary donations to aid in the relief efforts in the wake of Hurricane Katrina. Comcast also has posted information on how to make donations to the American Red Cross and the latest news reports on its broadband Internet portal, http://www.comcast.net, and on its customer website, http://www.comcast.com.
Comcast Corporation (Nasdaq: CMCSA; CMCSK) (http://www.comcast.com) is the nation's leading provider of cable, entertainment and communications products and services. With 21.5 million cable customers, 7.7 million high-speed Internet customers, and 1.2 million voice customers, Comcast is principally involved in the development, management and operation of broadband cable networks and in the delivery of programming content.
The Company's content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, Outdoor Life Network, G4, AZN Television, PBS KIDS Sprout, TV One and four regional Comcast SportsNets. The Company also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia. Comcast Class A common stock and Class A Special common stock trade on The NASDAQ Stock Market under the symbols CMCSA and CMCSK, respectively.