Comcast Corp. (CMCSA, Financial) filed Quarterly Report for the period ended 2010-09-30.
Comcast Corp. has a market cap of $54.26 billion; its shares were traded at around $19.64 with a P/E ratio of 16 and P/S ratio of 1.5. The dividend yield of Comcast Corp. stocks is 2%. Comcast Corp. had an annual average earning growth of 14.9% over the past 10 years.CMCSA is in the portfolios of Andreas Halvorsen of Viking Global Investors LP, John Paulson of Paulson & Co., Dodge & Cox, Bill Nygren of Oak Mark Fund, Fairholme Fund, Lee Ainslie of Maverick Capital, Jeff Auxier of Auxier Focus Fund, John Buckingham of Al Frank Asset Management, Inc., Brian Rogers of T Rowe Price Equity Income Fund, Irving Kahn of Kahn Brothers & Company Inc., Jean-Marie Eveillard of First Eagle Investment Management, LLC, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, Pioneer Investments, John Hussman of Hussman Economtrics Advisors, Inc., Larry Robbins of Glenview Capital, Bruce Kovner of Caxton Associates, Jeremy Grantham of GMO LLC, Tom Russo of Gardner Russo & Gardner, Mario Gabelli of GAMCO Investors, Glenn Greenberg of Brave Warrior Capital, Inc., Tom Russo of Gardner Russo & Gardner, Bruce Berkowitz of Fairholme Capital Management, Tweedy Browne of Tweedy Browne CO LLC, Wallace Weitz of Weitz Wallace R & Co, Tom Gayner of Markel Gayner Asset Management Corp.
interest, if any, 8 years after the closing. The redemption and purchase price will equal the ownership percentage being acquired multiplied by 120% of the fully distributed public market trading value of the new company, less half of the excess of 120% of that value over $28.15 billion. Subject to various limitations, we are committed to fund up to $2.875 billion in cash or common stock for each of the two redemptions (for an aggregate of up to $5.75 billion), with amounts not used in the first redemption to be available for the second redemption.
We have incurred expenses related to legal, accounting and valuation services of $21 million and $57 million for the three and nine months ended September 30, 2010, respectively, which are reflected in operating, selling, general and administrative expenses. We also incurred certain financing and other shared costs with GE associated with NBC Universals debt facilities entered into at the December 2009 agreement date and with the sale of NBC Universals senior notes in 2010. Other income (expense) includes $43 million and $91 million of these costs for the three and nine months ended September 30, 2010, respectively. Interest expense includes $2 million and $6 million of these costs for the three and nine months ended September 30, 2010, respectively.
Our Cable segment accounted for substantially all of the increases in consolidated operating, selling, general and administrative expenses for the three and nine months ended September 30, 2010 compared to the same periods in 2009. The remaining changes related to our other business activities, primarily Comcast Interactive Media and Comcast Spectacor, costs associated with the NBC Universal transaction of $21 million and $57 million for the three and nine months ended September 30, 2010, respectively, and our Programming segment. Cable segment and Programming segment operating, selling, general and administrative expenses are discussed separately in Segment Operating Results.
Our average monthly total revenue per video customer for the three months ended September 30, 2010 increased to approximately $130 from approximately $118 for the three months ended September 30, 2009. Our average monthly total revenue per video customer for the nine months ended September 30, 2010 increased to approximately $127 from approximately $117 for the nine months ended September 30, 2009. The increase in average monthly total revenue per video customer was primarily due to an increased number of customers receiving multiple services, rate adjustments and a higher contribution from our commercial services business.
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Comcast Corp. has a market cap of $54.26 billion; its shares were traded at around $19.64 with a P/E ratio of 16 and P/S ratio of 1.5. The dividend yield of Comcast Corp. stocks is 2%. Comcast Corp. had an annual average earning growth of 14.9% over the past 10 years.CMCSA is in the portfolios of Andreas Halvorsen of Viking Global Investors LP, John Paulson of Paulson & Co., Dodge & Cox, Bill Nygren of Oak Mark Fund, Fairholme Fund, Lee Ainslie of Maverick Capital, Jeff Auxier of Auxier Focus Fund, John Buckingham of Al Frank Asset Management, Inc., Brian Rogers of T Rowe Price Equity Income Fund, Irving Kahn of Kahn Brothers & Company Inc., Jean-Marie Eveillard of First Eagle Investment Management, LLC, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC, Pioneer Investments, John Hussman of Hussman Economtrics Advisors, Inc., Larry Robbins of Glenview Capital, Bruce Kovner of Caxton Associates, Jeremy Grantham of GMO LLC, Tom Russo of Gardner Russo & Gardner, Mario Gabelli of GAMCO Investors, Glenn Greenberg of Brave Warrior Capital, Inc., Tom Russo of Gardner Russo & Gardner, Bruce Berkowitz of Fairholme Capital Management, Tweedy Browne of Tweedy Browne CO LLC, Wallace Weitz of Weitz Wallace R & Co, Tom Gayner of Markel Gayner Asset Management Corp.
Highlight of Business Operations:
We entered into agreements with General Electric Company (GE) in December 2009 to form a new company of which we will own 51% and control, with the remaining 49% to be owned by GE. Under the terms of the transaction, GE will contribute NBC Universals businesses, including its cable and broadcast networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, as well as other GE assets used primarily in NBC Universals business. NBC Universal sold $4.0 billion aggregate principal amount of senior notes in April 2010 and $5.1 billion aggregate principal amount of senior notes in October 2010 in connection with the transaction. We will contribute our national programming networks, our regional sports networks and certain of our Internet businesses, as well as other assets used primarily in those businesses. We will also make a cash payment to GE of $7.1 billion, less certain adjustments primarily based on the free cash flow generated by NBC Universal between December 4, 2009 and the closing. The transaction is subject to various regulatory approvals and is expected to close by the end of 2010.interest, if any, 8 years after the closing. The redemption and purchase price will equal the ownership percentage being acquired multiplied by 120% of the fully distributed public market trading value of the new company, less half of the excess of 120% of that value over $28.15 billion. Subject to various limitations, we are committed to fund up to $2.875 billion in cash or common stock for each of the two redemptions (for an aggregate of up to $5.75 billion), with amounts not used in the first redemption to be available for the second redemption.
We have incurred expenses related to legal, accounting and valuation services of $21 million and $57 million for the three and nine months ended September 30, 2010, respectively, which are reflected in operating, selling, general and administrative expenses. We also incurred certain financing and other shared costs with GE associated with NBC Universals debt facilities entered into at the December 2009 agreement date and with the sale of NBC Universals senior notes in 2010. Other income (expense) includes $43 million and $91 million of these costs for the three and nine months ended September 30, 2010, respectively. Interest expense includes $2 million and $6 million of these costs for the three and nine months ended September 30, 2010, respectively.
Our Cable segment accounted for substantially all of the increases in consolidated operating, selling, general and administrative expenses for the three and nine months ended September 30, 2010 compared to the same periods in 2009. The remaining changes related to our other business activities, primarily Comcast Interactive Media and Comcast Spectacor, costs associated with the NBC Universal transaction of $21 million and $57 million for the three and nine months ended September 30, 2010, respectively, and our Programming segment. Cable segment and Programming segment operating, selling, general and administrative expenses are discussed separately in Segment Operating Results.
Our average monthly total revenue per video customer for the three months ended September 30, 2010 increased to approximately $130 from approximately $118 for the three months ended September 30, 2009. Our average monthly total revenue per video customer for the nine months ended September 30, 2010 increased to approximately $127 from approximately $117 for the nine months ended September 30, 2009. The increase in average monthly total revenue per video customer was primarily due to an increased number of customers receiving multiple services, rate adjustments and a higher contribution from our commercial services business.
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