Comcast is developing a smart thermostat product called the EcoSaver. The EcoSaver is a cloud-based product that works with the Xfinity Home thermostat to monitor the temperatures in their houses. It automatically makes adjustments based on real-time data.
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Comcast Corporation Posts
Comcast Corporation has announced today that they are planning to create millions of WiFi access points for customers through a neighborhood hotspot initiative. Comcast is going to offer their Xfinity Internet customers with an additional “Xfinitywifi” signal (SSID) in their home that is completely separate from their private and secure home WiFi signal. The Xfinitywifi signal will be available at no additional cost to Xfinity Internet residential customers.
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The high-quality video streaming content website Hulu is not for sale, but they are still receiving offers. AllThingsD is reporting that several potential acquirers have reached out to Hulu’s corporate parent companies, but they have not made a formal offer yet.
According to a 10-K filing that Comcast filed with the Securities and Exchange Commission, we have learned that NBCUniversal spent $195 million to buy back 50% of MSNBC.com from Microsoft. The $195 million was covered with $100 million in cash and cash equivalents held at MSNBC.com that were acquired in the transaction. The deal was signed this past July and NBCU redirected visitors from MSNBC.com to NBCNews.com. NBCU also brought in the employees from MSNBC.com under their wing. The purchase price valued MSNBC.com at about $500 million.
Comcast announced this week that they will be buying the remaining stake in NBCUniversal for $16.7 billion. Comcast also released their Q4 earnings and they have announced a 20% increase in its dividend along with a $2 billion stock repurchase plan.
Last week Comcast acquired 10.6 million shares in the broadband provider Arris for $150 million. Arris is known for buying Motorola Home from Google for $2.35 billion in cash ($2.05 billion) and stock ($300 million). Comcast bought the 10.6 million in Arris shares on January 14th. The deal is subject to the closing of the Google deal. The Google and Comcast deal is expected to close in Q2. Google and Comcast will each own around 7.85% in Arris.
Providence Equity Partners has sold their 10% stake in Hulu at a valuation of $2 billion according to sources with TechCrunch. Hulu is borrowing money to fund the repurchase. Hulu CEO Jason Kilar will receive $40 million from this transaction.
Comcast Corporation said that their subsidiary NBCUniversal has agreed to sell their 15.8% stake in A&E Television Networks LCC to its partners for $3.02 billion in cash. A&E includes channels like The History Channel and Lifetime. A&E is owned by Disney-ABC Television Group and Hearst Corporation. Comcast said this past May that they would exercise an option to sell “a substantial portion” of its stake to their joint-venture partners.