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Cable television broadcasting industry

Comcast and Richard H. Frank Launch New Company "C3" to Focus on Content and Communications

Strategic Insights

— 1 min read

Comcast Corporation and Richard H. Frank, former President of the Walt Disney Studios, have joined forces to create a new company, C3, which will focus on content and communications. This new venture will be led by Mr. Frank as Chairman and CEO and will be headquartered in Los Angeles. C3 will be involved in various activities, including the development and production of programming for Comcast and other media outlets, enhancement of existing and creation of new distribution channels, expansion of transactional services, and acquisitions of programming and media-related companies.

Key Takeaways:

  • C3 will have a production division to produce cable, network, and first-run syndicated product, as well as programming for interactive technologies.
  • The company will establish a distribution division to represent in-house produced material, as well as product from other production entities, both domestically and internationally.
  • C3 will develop and implement an acquisition strategy focused on programming and media-related organizations consistent with the Company's long-range operating objectives.
  • The new company will oversee QVC, the world's most successful electronic shopping network, and will assist Comcast with its programming investments in E! Entertainment, Viewer's Choice, Turner Broadcasting, and more.
  • C3 will be a vertically integrated company embracing the development, production, distribution, and marketing of programming to consumers.
  • The resources of Comcast Cable, as well as other wireless and content activities, will be brought to bear in launching and growing this new media company.

Statistics:

  • Comcast serves over eight million customers worldwide.
  • QVC is the world's most successful electronic shopping network.
  • C3 will be headquartered in Los Angeles.
  • The company will focus on four distinct areas: development and production of programming, enhancement of distribution channels, expansion of transactional services, and acquisitions of programming and media-related companies.

Sources:

PRNewswire, "Comcast Corporation and Richard H. Frank Announce Creation of C3"

Comcast Corporation, Annual Report

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