Erik Gruenwedel
March 25, 2020
Comcast is taking a fiscal page from Disney’s playbook and not waiting for Congress to bail out its struggling business segments.
The media giant March 25 disclosed it is selling $4 billion in new bonds (long-term debt) that mature in the next five to 20 years.
“We intend to use the net proceeds from the offering … for general corporate purposes,” Comcast said in the filing. The company operates Comcast Cable, satellite TV operator Sky, DreamWorks Animation, NBCUniversal — the latter including Universal Pictures and FandangoNow, among other businesses.
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The funding sale comes the day after Comcast issued a warning to investors that its business segments could have a “material adverse” impact in the short-term — including the first fiscal quarter ending March 31.
NBCUniversal launches the branded Peacock subscription streaming video platform on April 15.
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