Comcast Corporation and NBCUniversal Enterprise, Inc.Announce Results of Takeover Bids for Certain of Their Outstanding Senior Debt Securities


PHILADELPHIA CREAM – (COMMERCIAL THREAD) –Comcast Corporation (“Comcast“) announced that at 5:00 p.m. New York time on June 17, 2020 (the”Expiration date“), it had received offers for an aggregate principal amount of $ 585,105,000 on the total principal amount outstanding of $ 1,000,000,000 of its variable rate notes due October 2021 (the”Release Notes“), and NBCUniversal Enterprise, Inc., a subsidiary of Comcast (“NBCU Enterprise“And, with Comcast, the”Issuers“) had received offers for an aggregate principal amount of $ 1,191,465,000 on the total principal amount outstanding of $ 1,500,000,000 of its Senior Floating Rate Notes due April 2021 (the”NBCU Company Notes“And, along with the Comcast Notes, the”Remarks“), in each case in the cash tender offers announced on June 11, 2020, which were made pursuant to the Offer to Purchase and the related Letter of Transmittal and Notice of Guaranteed Delivery , each dated June 11, 2020 (the “Tender documents“). An additional aggregate principal amount of $ 1,041,000 of the Comcast Notes has been contributed in accordance with the guaranteed delivery procedures described in the tender offer documents.

The Issuers have agreed to purchase all of the Notes validly deposited and not validly withdrawn no later than the Expiration Time. Holders whose Notes have been accepted for purchase will also receive accrued and unpaid interest on Notes purchased from the last interest payment date for such Notes up to, but excluding, the settlement date (such as defined below). The Issuers also expect to accept the Notes validly tendered and delivered in accordance with the guaranteed delivery procedures described in the Public Offer Documents. The Issuers will not accept any other offer.

The settlement date for validly deposited and invalidly withdrawn Notes on or before the Expiry Time is expected to be June 22, 2020. The purchase of the Notes will be funded from available cash.

Goldman Sachs & Co. LLC and MUFG Securities Americas Inc. acted as joint managers of the takeover bid.

This press release is neither an offer to buy nor a solicitation of an offer to sell securities. The takeover bids have been made solely by and in accordance with the terms of the tender offer documents. The take-over bids have not been made in a jurisdiction in which the presentation or acceptance thereof would not comply with securities laws, blue sky or other laws of that jurisdiction. In any jurisdiction where the laws require that take-over bids be made by a licensed broker or broker, the take-over bids have been made by the Joint Dealer Managers on behalf of the Issuers. None of the Issuers, the Custodian and Information Agent or the Joint Dealer Managers, nor any of their affiliates, has made any recommendation as to whether holders should contribute or refrain from contributing all or part of the of their Securities in response to takeover bids.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with three main businesses: Comcast Cable Communications, LLC (“Comcast Cable“), NBCUniversal Media, LLC (“NBCUniversal“), and Sky Limited (“Sky“). Comcast Cable is one of the largest providers of broadband Internet, video and telephony in the United States to residential customers under the Xfinity brand, and also provides these services to businesses. It also provides wireless, security and automation services to residential customers under the Xfinity brand. NBCUniversal is global and operates cable news, entertainment and sports networks, NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures and Universal Parks and Resorts. Sky is one of Europe’s leading media and entertainment companies, connecting its customers to a wide range of video content through its pay TV services. It also provides communication services, including residential high speed Internet services, telephone and wireless services. Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content and owns exclusive rights to the content. Visit for more information.

Forward-looking statements

This press release contains forward-looking statements. Readers are cautioned that these forward-looking statements involve risks and uncertainties that could cause actual events or our actual results to differ materially from those expressed in these forward-looking statements. Readers are referred to Comcast’s periodic and other reports filed with the Securities and Exchange Commission (SEC) for a description of these risks and uncertainties. We do not undertake to update any forward-looking statements.

Our business may be affected, among others, by the following:

  • the COVID-19 pandemic could have a material adverse effect on our business and operating results;

  • our businesses operate in highly competitive and dynamic industries, and our business and operating results could be affected if we do not compete effectively;

  • changes in consumer behavior brought about by online video distribution platforms for viewing content continue to hamper our business and challenge existing business models;

  • a decrease in advertiser spending or changes in advertising markets could negatively impact our business;

  • our activities depend on technological developments;

  • we are subject to regulation by federal, state, local and foreign authorities, which impose additional costs and restrictions on our business;

  • programming expenses for our video services are increasing, which could adversely affect the video operations of Comcast Cable and Sky;

  • The success of NBCUniversal and Sky depends on consumer acceptance of their content, and their business may be affected if their content is not sufficiently accepted by consumers or if the costs of creating or acquiring content increase. ;

  • the loss of programming distribution and license agreements, or the renewal of such agreements on less favorable terms, could have an adverse effect on our business;

  • less favorable telecommunications access regulations, the loss of Sky’s transmission agreements with satellite or telecommunications providers or the renewal of these agreements on less favorable terms could adversely affect Sky’s activities;

  • we rely on networks and information systems and other technologies, as well as on key properties, and a disruption, cyber attack, failure or destruction of these networks, systems, technologies or properties may disrupt our business ;

  • our business depends on the use and protection of certain intellectual property rights and on non-infringement of the intellectual property rights of others;

  • we may not be able to obtain the necessary hardware, software and operational support;

  • weak economic conditions can have a negative impact on our business;

  • acquisitions and other strategic initiatives present many risks, and we may not achieve the financial and strategic objectives we envisioned;

  • we are faced with risks related to the conduct of international business which could have a negative impact on our activities;

  • litigation or the results of adverse government investigations could require us to pay large sums or lead to onerous operating procedures;

  • labor disputes, whether involving employees or sports organizations, can disrupt our operations and adversely affect our business;

  • the loss of key management personnel or popular on-air and creative talent could adversely affect our business; and

  • our class B common shares have substantial voting rights and separate approval rights over several potentially significant transactions, and our chief executive officer has significant influence over our company through his beneficial ownership of our class B common shares

You should not place undue reliance on forward-looking statements, which speak only as of the date they are posted. Factors or events that could cause our actual results to vary may occur from time to time and it is not possible to predict all of them.

The foregoing list of factors is not exhaustive. For a discussion of these and other factors that may cause actual results to differ from expectations, see “Forward-Looking Statements” and “Risk Factors” in Comcast’s Annual Report on Form 10-K for year ended December 31, 2019 and quarterly. Report on Form 10-Q for the quarter ended March 31, 2020 as filed with the SEC.

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