Details about the deal remain murky. However, Trian Fund stated, “We have recently begun what we believe are constructive discussions with Comcast’s management team and look forward to continuing those discussions.” Comcast remains silent regarding current negotiations with the activist hedge fund.
By and large, Comcast has done relatively well throughout the COVID-19 pandemic with the exception of NBCUniversal, a division within the company portfolio that witnessed a 25% drop in revenue as the film industry tanked due to closures and lockdowns.
Roberts has said that Comcast’s biggest profit generator throughout the pandemic has been its broadband service. The company expects to add nearly 500,000 new users for Q4 2020.
On September 14, Roberts said, “If you look at the big tech companies, they’re all about now getting into media. If you look at the media companies, they’re trying to use new technologies. Broadband is really the enabler. And the best thing for Comcast is we’re there. We saw this coming.”
