Comcast 2013 Annual Report Download - page 43

Table of Contents
We may be unable to obtain necessary hardware, software and operational support.
We depend on third-
party vendors to supply us with a significant amount of the hardware, software and operational support
necessary to provide certain of our services. Some of these vendors represent our primary source of supply or grant us the right to
incorporate their intellectual property into some of our hardware and software products. While we actively monitor the operations
and financial condition of key vendors in an attempt to detect any potential difficulties, there can be no assurance that we would
timely identify any operating or financial difficulties associated with these vendors or that we could effectively mitigate our risks with
respect to any such difficulties. If any of these vendors experience operating or financial difficulties or if demand exceeds their
capacity or they otherwise cannot meet our specifications, our ability to provide some services may be adversely affected.
Labor disputes, whether involving employees or sports organizations, may disrupt our operations and adversely affect
our businesses.
Many of NBCUniversal’
s employees, including writers, directors, actors, technical and production personnel and others, as well as
some of our on-air and creative talent and cable communications’
employees, are covered by collective bargaining agreements or
works councils. If we are unable to reach agreement with a labor union before the expiration of a collective bargaining agreement,
our employees who were covered by that agreement may have a right to strike or take other actions that could adversely affect us.
Moreover, many of NBCUniversal’s collective bargaining agreements are industry-
wide agreements, and we may lack practical
control over the negotiations and terms of the agreements. A labor dispute involving our employees may result in work stoppages
or disrupt our operations and reduce our revenue, and resolution of disputes may increase our costs. There can be no assurance
that we will renew our collective bargaining agreements as they expire or that we can renew them on favorable terms or without any
work stoppages.
In addition, our cable networks and broadcast television networks have programming rights agreements of varying scope and
duration with various sports organizations to broadcast and produce sporting events, including certain NFL, NHL, NBA and MLB
games. Labor disputes in these and other sports organizations could have an adverse effect on our businesses.
The loss of key management personnel or popular on-
air and creative talent could have an adverse effect on our
businesses.
We rely on certain key management personnel in the operation of our businesses. While we maintain long-
term and emergency
transition plans for key management personnel and believe we could either identify internal candidates or attract outside candidates
to fill any vacancy created by the loss of any key management personnel, the loss of one or more of our key management
personnel could have a negative impact on our businesses. In addition, our cable networks, broadcast television and filmed
entertainment businesses depend on the abilities and expertise of our on-air and creative talent. If we fail to retain our on-
air or
creative talent, if the costs to retain such talent increase materially, if we need to make significant termination payments, or if these
individuals lose their current appeal, our businesses could be adversely affected.
We face risks relating to doing business internationally that could adversely affect our businesses.
We, primarily through NBCUniversal, operate our businesses worldwide. There are risks inherent in doing business internationally,
including global financial market turmoil, economic volatility and the global economic slowdown, currency exchange rate
fluctuations and inflationary pressures, the requirements of local laws and customs relating to the publication and distribution of
content and the display and sale of advertising, import or export restrictions and changes in trade regulations, difficulties in
developing, staffing and managing foreign operations, issues related to occupational safety and adherence to diverse local labor
laws and regulations, and potentially adverse tax developments. In addition, doing business internationally is subject to risks
relating to political or social unrest, corruption and government regulation, including U.S. laws such as
Comcast 2013 Annual Report on Form 10
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