Rumors persist for Comcast cellular acquisition
updated 03:20 pm EDT, Fri October 26, 2007
Comcast hunting cellular?
Comcast may still be seeking to buy a major cellular company despite past denials, reports suggest. CEO Brian Roberts has told a the participants of a financial conference call that, acknowledging escalating rumors, "it is something we [Comcast] are constantly assessing," even if "there is no new news" regarding a purchase. A year prior, ex-CFO John Alchin flat-out denied any purchase plans, suggesting that they were not even being contemplated.
The subject of the company Comcast would buy and how it would buy it remains speculation, but it is believed that the target would be T-Mobile or Sprint, since these would permit national competition with AT&T and Verizon. Sprint in particular is suggested as a result of low stock value, triggered by problems which resulted in the departure of CEO Gary Forsee. Comcast may decide to make a purchase by itself or with another cable company, such as Time Warner. [via The Wall Street Journal]
