Comcast 2014 Annual Report Download - page 94

Table of Contents
Comcast Corporation
Notes to Consolidated Financial Statements
Note 1: Business and Basis of Presentation
We are a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. We were
incorporated under the laws of Pennsylvania in December 2001. Through our predecessors, we have developed, managed and
operated cable systems since 1963. In 2013, we acquired General Electric Company’s (“GE”)
49% common equity interest in
NBCUniversal, LLC (“NBCUniversal Holdings”) that we did not already own.
On February 12, 2014, we entered into an agreement and plan of merger (the “merger agreement”)
with Time Warner Cable Inc.
(“Time Warner Cable”) whereby Time Warner Cable will become our wholly owned subsidiary (the “Time Warner Cable merger”
).
On April 25, 2014, in connection with the merger agreement, we entered into an agreement with Charter Communications, Inc.
(“Charter”)
that, among other things, would result in a net disposition of certain cable systems. See Note 5 for additional information
on the Time Warner Cable merger and the agreement with Charter.
We present our operations for Comcast Cable in one reportable business segment, referred to as Cable Communications, and our
operations for NBCUniversal in four reportable business segments. The Cable Networks, Broadcast Television, Filmed
Entertainment and Theme Parks segments comprise the NBCUniversal businesses (collectively, the “NBCUniversal segments”
).
See Note 18 for additional information on our reportable business segments.
Our Cable Communications segment primarily manages and operates cable systems that serve residential and business customers
in the United States. As of December 31, 2014, our cable systems served 22.4 million video customers, 22.0 million high-
speed
Internet customers and 11.2 million voice customers, with 27.0 million total customer relationships.
Our Cable Networks segment consists primarily of a diversified portfolio of cable television networks. Our cable networks are
comprised of our national cable networks, which provide a variety of entertainment, news and information, and sports content, our
regional sports and news networks, our international cable networks, and our cable television production operations.
Our Broadcast Television segment consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo
owned local broadcast television stations, the NBC Universo (formerly mun2) national cable network, and our broadcast television
production operations.
Our Filmed Entertainment segment primarily produces, acquires, markets and distributes filmed entertainment worldwide. Our films
are produced primarily under the Universal Pictures, Focus Features and Illumination names.
Our Theme Parks segment consists primarily of our Universal theme parks in Orlando, Florida and Hollywood, California. Our
Theme Parks segment also receives fees from third parties that own and operate Universal Studios Japan and Universal Studios
Singapore for intellectual property licenses and other services.
Our other business interests consist primarily of Comcast-
Spectacor, which owns the Philadelphia Flyers and the Wells Fargo
Center arena in Philadelphia, Pennsylvania and operates arena management-related businesses.
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Comcast 2014 Annual Report on Form 10-
K