Here's How Comcast Sells The NBC Deal To The sceptics

comcast slides

Comcast’s deal faces a sceptical press and investing community, as it’s hard to spot the synergies between Comcast and NBC.

Sure, they both involve the television, but each is a radically different business.

To those sceptics, Comcast says, you’re right!

Sort of.

Comcast isn’t wasting its time selling the idea of synergies. Instead it is focusing on the strengths of NBC Universal, and the great deal it’s getting.

CEO, Brian Roberts told analysts, the “timing is fortuitous, the size is great.” He reminded any potentially angry investors Comcast will have a share buyback, and is upping its dividend. Roberts considers buying NBC a “reasonable risk.”

Here’s why:

  • Comcast is buying at a low in the economic cycle.
  • It’s only putting up $6.5 billion in cash.
  • NBCU will have highly rated debt.
  • The cash flow is awesome, $2+ billion.
  • Cable channels are growing.
  • More access to more data for better advertising.

Looks like it’s working. Comcast stock is up 7% today.

Here are the slides that explain it all →

It's a pretty impressive catalogue of brands

Transaction details

Shareholders! Don't get mad!

It's all about the cash.

The assets combined.

If you're wondering why Comcast isn't immediately tossing Zucker, here's his resume.

Can they make a run at Disney?

Oh yeah, Comcast/NBC is on the web too, in a big way.

Comcast promises it will be awesome for shareholders.

More details.

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