Comcast Forms Comcast Interactive Capital Group
Comcast Corporation today announced that it has formed Comcast Interactive Capital Group (CIC), a new independent unit that will function as a venture capital fund to seek out, acquire and manage investments associated with the Internet. Julian A. Brodsky, Vice Chairman of Comcast, will lead the new venture, which will be his principal activity, as Chairman of Comcast Interactive Capital Group.
Brian L. Roberts, President of Comcast said, "The creation of Comcast Interactive Capital Group formalizes the Company's investment activity in the growing Internet space. Comcast has made a number of investments in various Internet ventures over the past two years and I am delighted that Julian has accepted the challenge to head up CIC. Julian is uniquely qualified to direct Comcast's investment in this new business sector. CIC will provide a vehicle to invest in new technologies that will leverage Comcast's broadband platform, our content and e-commerce businesses."
Julian A. Brodsky said, "We are interested in funding the development of Internet-related companies that will provide the next generation of interactive and e-commerce technology, tools, applications and content. Hopefully, a number of these investments will mature into operating opportunities for Comcast."
Comcast Corporation is principally engaged in the development, management and operation of broadband cable networks, wired and wireless telecommunications systems and the provision of content. Comcast is the fourth largest domestic cable company, serving almost 4.5 million cable customers nationwide. Comcast's wireless operations serve markets with a population of more than 8.4 million. Comcast provides content through its majority-owned subsidiaries, QVC, the world's premier electronic retailer, E! Entertainment Television, Comcast-Spectacor and Comcast SportsNet and through other investments, including The Golf Channel, Speedvision and Outdoor Life.
Comcast's Class A and Class A Special Common Stock are traded on The Nasdaq Stock Market under the symbols CMCSA and CMCSK, respectively. More information on Comcast Corporation can be found on the Company's website on the Internet at www.comcast.com.