Comcast Corporation (CMCSA): $100 Million Committed To Combating Inequality

By Dan Anderson ● June 8, 2020
  • Comcast Corporation (NASDAQ: CMCSA) CEO Brian Roberts announced that the company is committed to spending $100 million over the next 3 years to combat inequality

Comcast Corporation (NASDAQ: CMCSA) CEO Brian Roberts announced that the company is committed to spending $100 million over the next 3 years to combat inequality and injustice. Roberts made the announcement in an email to company employees today.

The commitment is in the form of $75 milion in cash and $25 million in media.

Comcast EVP and NBCUniversal Chief Diversity Officer Craig Robinson is going to be overseeing the company’s efforts to “fight injustice and inequality against any race, ethnicity, gender identity, sexual orientation or ability.” The media and broadband giant is going to focus this commitment on five aspects, including social justice, employees, awareness and education, digital equity, and small business opportunity.

As part of the social justice aspect, Comcast will set up significant grants and partner with groups that are working on eradicating injustice and inequity. And Comcast will earmark funds toward organizations focused on equality like the National Urban League, the Equal Justice Initiative, and the NAACP.

Plus Comcast is also going to accelerate diversity and inclusion through town hall meetings and a speaker series around race-related topics along with mandatory training on anti-racism.

In terms of media, Comcast will direct its resources to spotlight black stories and voices. And the company will also expand on upskilling training.

These funds will be used for benefitting small businesses that were affected by the COVID-19 pandemic. A substantial portion of these funds will be directed to businesses owned by people of color.

And Comcast will set up new programs for the LIFT Labs startup accelerator for black founders. And Comcast Ventures is going to invest in minority-owned startups.