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Bill Nygren Comments on Comcast

October 08, 2012 | About:

The top contributor to performance for the past 12 months was Comcast (NYSE:CCS), the largest cable provider in the U.S., returning 71%. The company’s business services, broadband units and recently acquired NBC assets have enjoyed strong results. We continue to like Comcast’s positioning as both the largest system operator (video, internet and digital phone services) and a large producer of content. Its cable business has considerable scale advantages and continues to thrive despite growing availability of video via the Internet. Over the past year management has returned more capital to shareholders, which we applaud, by boosting its dividend 44% and announcing a new $6.5 billion share-repurchase authorization. We believe Comcast is poised to continue providing good returns for our shareholders.

From Oakmark Global Select Fund Letter to Shareholders Third Quarter.

Rating: 2.3/5 (6 votes)


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