Comcast 2011 Annual Report Download - page 84

Notes to Consolidated Financial Statements
Note 1: Organization and Business
We are a Pennsylvania corporation and were incorporated in December 2001. Through our predecessors, we
have developed, managed and operated cable systems since 1963. On January 28, 2011, we closed our
transaction with GE in which we acquired a 51% controlling interest in the businesses of NBCUniversal, a
leading media and entertainment company that develops, produces and distributes entertainment, news and
information, sports, and other content to global audiences. NBCUniversal’s results of operations from Jan-
uary 29, 2011 through December 31, 2011 are included in our consolidated results of operations. See Note 4
for additional information on the transaction.
As a result of the NBCUniversal transaction, we report our operations as the following five reportable busi-
ness segments: Cable Communications (previously our Cable segment), Cable Networks, Broadcast
Television, Filmed Entertainment and Theme Parks. See Note 20 for additional information on our reportable
segments.
Our Cable Communications segment is primarily involved in the management and operation of cable systems
serving residential and business customers in the United States. As of December 31, 2011, we served
approximately 22.3 million video customers, 18.1 million high-speed Internet customers and 9.3 million voice
customers.
Our Cable Networks segment consists primarily of our national cable entertainment networks (USA Network,
Syfy, E!, Bravo, Oxygen, Style, G4, Chiller, Cloo (formerly Sleuth) and Universal HD); our national cable news
and information networks (CNBC, MSNBC and CNBC World); our national cable sports networks (Golf Chan-
nel and NBC Sports Network (formerly VERSUS)); our 13 regional sports and news networks; our
international cable networks (including CNBC Europe, CNBC Asia and our Universal Networks International
portfolio of networks); our cable television production studio; and our related digital media properties, which
consist primarily of brand-aligned and other websites, such as DailyCandy, Fandango and iVillage.
Our Broadcast Television segment consists primarily of our NBC and Telemundo broadcast networks, our
NBC and Telemundo owned local television stations, our broadcast television production operations, and our
related digital media properties, which consist primarily of brand-aligned websites.
Our Filmed Entertainment segment consists of the operations of Universal Pictures, including Focus Features,
which produces, acquires, markets and distributes filmed entertainment worldwide in various media formats
for theatrical, home entertainment, television and other distribution platforms. We also develop, produce and
license stage plays.
Our Theme Parks segment consists primarily of our Universal theme parks in Orlando and Hollywood. We
also receive fees from intellectual property licenses and other services from third parties that own and oper-
ate Universal Studios Japan and Universal Studios Singapore.
Our other business interests primarily include Comcast Spectacor, which owns the Philadelphia Flyers and
the Wells Fargo Center, a large, multipurpose arena in Philadelphia. Comcast Spectacor also owns Global
Spectrum, which provides facilities management, and Ovations Food Services, which provides food services,
for sporting events, concerts and other events. We also own equity method investments in other cable net-
works and wireless-related companies.
Comcast 2011 Annual Report on Form 10-K 82