Latest news with #ComcastCorp
Business Journals
25-04-2025
- Business
- Business Journals
Comcast CEO Brian Roberts took a 5% hit to his total compensation in 2024
The dip in total compensation for Brian Roberts came a year after the Comcast CEO's pay reached its highest level since 2019. Comcast Corp. CEO Brian Roberts' pay package dropped 4.5% in 2024 to $33.86 million, according to an annual proxy report filed by the Philadelphia media and technology giant on Friday. The total compensation for Roberts last year was down from $35.47 million in 2023, when it reached its highest level in four years, according to the U.S. Securities and Exchange Commission filings. While Roberts' base salary of $2.5 million increased by one dollar, his income tied to stock options dropped from $9.2 million in 2023 to $5.75 million in 2024. The longtime Comcast chief executive also received stock awards totaling $17.91 million last year. Comcast's second-highest earner was President Michael Cavanagh, who pulled in $28.26 million after receiving $29.58 million in total compensation in 2023. Cavanagh had stock awards of $13.63 million and options totaling $4.38 with the same base salary as Roberts. While the two leaders of Comcast (NASDAQ: CMCSA) saw their pay decline last year, CFO Jason Armstrong's compensation jumped 30% to $15.1 million from $11.59 million the year prior. Comcast Chief Legal Officer Thomas J. Reid was paid $14.13 million in 2024 and Chief Communications Officer Jennifer Khoury took home $5.5 million, according to the proxy report. Roberts, 65, has a deferred compensation plan that totaled $145 million at the end of 2024. According to the proxy, Roberts makes 380 times the salary of the median Comcast employee, which was $89,237 in 2024. The company reported 195,286 full-time, part-time, seasonal and temporary employees as of the end of 2024. In the SEC filing, the Comcast compensation committee said Roberts "provided invaluable long-term vision and stability as he continued to lead the execution of our company's strategy worldwide, especially in light of competitive challenges." Roberts has served as chairman of Comcast's board since 2004 and as CEO since 2002. Comcast reported revenue of $123.7 billion in 2024 and a profit of $16.2 billion, a 5.2% increase over the year prior. The tech and media conglomerate in November outlined plans to spin off a $7 billion collection of its cable networks into a new publicly traded company. The spinoff will be led by CEO Mark Lazarus and include brands like USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel. Roberts also played an integral role last year in convincing the 76ers to abandon plans to build their own Center City arena, working behind the scenes to strike a deal for the NBA team to stay in South Philadelphia with Comcast subsidiary Comcast Spectacor acquiring an ownership stake in the Sixers. Sign up here for the Philadelphia Business Journal's free newsletters, and download our free app for breaking news alerts.
Asharq Al-Awsat
09-04-2025
- Business
- Asharq Al-Awsat
Universal to Open First European Theme Park Near London
US media giant Comcast Corp has chosen an area north of London for its first Universal theme park and resort in Europe, pledging to build rides and attractions based on its movie franchises that it hopes will rival Disneyland Paris. The group, which owns the Jurassic Park and Back to the Future movie franchises and the Harry Potter theme park license, said the park in Bedford would create 20,000 jobs during construction and a further 8,000 across the hospitality and creative industries when it opens in 2031. It is expected to attract 8.5 million visitors in its first year, a number currently only exceeded in Europe by Disneyland Paris to the east of the French capital. British Prime Minister Keir Starmer and finance minister Rachel Reeves joined Comcast bosses to announce the theme park on Wednesday. "This will drive growth here and across the country," Starmer said. The Labor government has pledged to boost investment in infrastructure since it was elected last year, and Britain's economy needs fresh momentum after the highest tax-raising budget since 1993 in October dented business confidence. The government has pledged to speed up planning decisions and the announcement comes after it approved the expansion of Luton Airport, which is about 20 miles (32 kilometers) from the Universal site, boosting the area's international connectivity. "This (theme park) is our 'Plan for Change' in action, bringing investment, bringing opportunity, growth, jobs and, of course, joy to Britain," Starmer said. Universal has five resorts and parks, in the US states of California and Florida as well as in Singapore, Japan and China, offering rides and attractions based on its movie franchises. Plans for the new site include a park, featuring several themed lands, a 500-room hotel and a retail, dining and entertainment complex. Comcast President Mike Cavanagh showed Starmer the plan in London on Tuesday, saying he "could not be more excited" to create a Universal theme park and resort in the heart of the United Kingdom. Comcast bought a 500-acre former brickworks in Bedfordshire, about 55 miles north of London, in 2023 and had been in talks with the government since last year. It already owns Sky, which is Europe's biggest pay-TV business. The theme park and resort are subject to planning permission, the government said.
Bloomberg
09-04-2025
- Business
- Bloomberg
Comcast to Move Forward With Universal Theme Park in the UK
Comcast Corp. said it will proceed with plans to build its first European theme park in the UK after getting necessary approvals from the government there. The park will be built in Bedford, about 35 minutes north of London by train, the company said in a press release Tuesday. Construction is expected to start in 2026. Comcast acquired the 476-acre parcel two years ago.
Al Arabiya
08-04-2025
- Business
- Al Arabiya
Universal Studios to open first European theme park near London
US media giant Comcast Corp will build its first Universal theme park and resort in Europe in Bedford, north of London, opening in 2031, the British government said on Wednesday. The park will create 20,000 jobs during construction and a further 8,000 jobs across the hospitality and creative industries when it opens, it said. It is expected to attract 8.5 million visitors in its first year, a number currently only exceeded in Europe by Disneyland Paris. Universal Studios has five resorts and parks in the US states of California and Florida as well as in Singapore, Japan and China, offering rides and attractions based on Jurassic Park, Harry Potter and other movie franchises. Prime Minister Keir Starmer, who has sought to ease planning demands to boost investment in Britain, said in a statement the multi-billion pound investment would make Bedford home to one of the biggest entertainment parks in Europe. Plans for the site include a theme park, featuring several themed lands, a 500-room hotel and a retail, dining and entertainment complex. Comcast President Mike Cavanagh showed Starmer the plan in London on Tuesday, saying he 'could not be more excited' to create a Universal theme park and resort in the heart of the United Kingdom. Comcast bought a 500-acre former brickworks in Bedfordshire, about 55 miles north of London, in 2023. It already owns Sky, which is Europe's biggest pay-TV business. It had been in talks with the British government since last year about turning the site into a theme park. The Labour government, which has pledged to drive investment in infrastructure since it was elected last year, has approved the expansion of Luton Airport, which is about 20 miles from the Universal site, boosting the area's international connectivity. The theme park and resort are subject to planning permission, the government said.
Bloomberg
13-03-2025
- Business
- Bloomberg
Comcast's NBC Extends Olympic TV Rights to 2036 for $3 Billion
Comcast Corp. 's NBC division extended its TV rights to the Olympics until 2036 in a $3 billion deal, locking down the Games for the next decade. The agreement extends the current contract between the parties through the 2033-36 games cycle and is valued at $3 billion, NBCUniversal and the International Olympic Committee said in a statement Thursday.
