Comcast 2013 Annual Report Download - page 53

Table of Contents
2013 Developments
The following are the more significant developments in our businesses during 2013:
Cable Communications Segment
NBCUniversal Segments
Redemption Transaction
On March 19, 2013, Comcast acquired GE’
s remaining 49% common equity interest in NBCUniversal Holdings for approximately
$16.7 billion (the “Redemption Transaction”).
In addition to this transaction, NBCUniversal purchased from GE certain properties
NBCUniversal occupies at 30 Rockefeller Plaza in New York City and CNBC’
s headquarters in Englewood Cliffs, New Jersey for
$1.4 billion. See Note 4 to Comcast’s consolidated financial statements for additional information on these transactions.
Competition
The results of operations of our reportable business segments are affected by competition, as all of our businesses operate in
competitive, consumer-driven and rapidly changing environments and compete with a
•
an increase in consolidated revenue of 3.3% to $64.7 billion and an increase in consolidated operating
income of 11.4% to $13.6 billion
•
the acquisition in March 2013 of GE’
s remaining 49% common equity interest in NBCUniversal Holdings
and NBCUniversal’s purchase from GE of certain properties NBCUniversal occupies; see “
Redemption
Transaction” below for additional information
•
an increase in Cable Communications segment revenue of 5.6% to $41.8 billion and an increase in
Cable Communications segment operating income before depreciation and amortization of 5.8% to $17.2
billion
•
an increase in Cable Communications segment capital expenditures of 9.8% to $5.4 billion primarily due
to the investment in our IP and cloud-
enabled video platform, referred to as our X1 platform, the
deployment of our wireless gateways in customers’
homes, and our continued investment in network
infrastructure, as well as the expansion of business services and our home security and automation
services
•
our X1 platform is now available in all of the markets in which we operate, and we have purchased and
deployed over 7 million wireless gateways
•
the continued expansion of video offerings for our customers via On Demand and online, including the
launch of a mobile app that enables live-streaming of certain programming content
•
an increase in total NBCUniversal revenue of 5.7% to $23.7 billion when excluding the impact from our
broadcasts of the Super Bowl and London Olympics in 2012, and a decrease of 0.7% when including the
$1.4 billion of revenue in the prior year related to these events
•
an increase in total NBCUniversal operating income before depreciation and amortization of 15.2% to
$4.7 billion
•
the continued investment in original programming and sports programming rights at both our cable
networks and broadcast networks and the continued investment in new attractions at our Universal
theme parks, including the Transformers and Despicable Me attractions and the expansion of the
Harry
Potter
attraction
Comcast 2013 Annual Report on Form 10
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