Feeds

Microsoft ditches Comcast shares

Money isn't everything, Mortimer

Designing a Defense for Mobile Applications

Microsoft recently sold its 7.26 per cent stake in Comcast, in what is being seen as another burst of financial housekeeping ahead of tomorrow’s second quarter earnings report.

A US Securities and Exchange Commission filing, dated 16 January, disclosed that Microsoft no longer holds any Class A shares in the Philadelphia-based cable giant.

Before the sale the software vendor had a stake in Comcast of about 150.9m shares.

Microsoft first showed an interest in Comcast way back in 1997, when it invested $1bn in the company to help plump up the outfit’s deployment of high-speed data and video services over its then blossoming network.

The Wall Street Journal suggested the stake could have been worth between $2bn and $3.4bn when Microsoft offloaded.

It’s not clear from the filing when Redmond sold the shares or at what price, but the company’s decision to back away from Comcast could be viewed by many as yet another effort to cut costs.

Microsoft has around $9bn in cash according to its balance sheet. Having another few billion bucks to play with as it enters into a bout of restructuring isn't going to hurt though.

Comcast, which has seen shares tumble in recent months, learned yesterday that it was once again in trouble with the US Federal Communications Commission over possible net neutrality violations in its latest "protocol-neutral" internet traffic management regime. ®

The smart choice: opportunity from uncertainty

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.