A Failed Strategy for CBS Corporation (NYSE:CBS) and Comcast Corporation (NASDAQ:CMCSA)?

Posted by Lynn Eisler September 26, 2013 0 Comment 1882 views


Media, entertainment and TV broadcasting companies such as CBS Corporation (NYSE:CBS) and Comcast Corporation (NASDAQ:CMCSA) are in constant efforts to mix and match strategies, try out new technologies and launch new concepts in the TV and media space. This is one field where stagnancy can lead to sure death. Expansion of the user-base and coverage in terms of population are two driving factors when it comes to maintaining an upper-hand in the business.

At the start of this month, CBS Corporation (NYSE:CBS), Time Warner Cable as well as Bright House Networks signed an agreement of carriage. Via this agreement, CBS Corporation (NYSE:CBS) – owned stations will be carried on Time Warner’s cable systems, across the United States. The other channels that will be carried on this network are CBS Sports, Showtime Networks and the Smithsonian Channel. That agreement included some re-transmission content, VOD and Showtime Anytime for the CBS Corporation (NYSE:CBS) station on the Time Warner Cable systems in LA, NY and Dallas.

Comcast Corporation (NASDAQ:CMCSA) is another company that is always on the move when it comes to expansion and reach. The new school year has started and this time, the company is re-launching Internet Essentials. This was the most detailed and the largest broadband adoption-initiative in the United States. Low income families were the target group of this venture and this is the segment that will be covered under this launch as well.

Filemon Lopez, Comcast Corporation (NASDAQ:CMCSA)’s senior vice-president of Strategic Operations launched the program on 23 September. Community and civic leaders were present at the event. This is the 3rd year of the program and Lopez announced that via this program, over 220,000 families now have access to a broadband connection in their homes and that over 900,000 low-income Americans across the country benefit from it.

The company is a very technology-driven one and last week, it has announced a new PBX solution called Business VoiceEdge. This cloud-based solution provides Comcast Corporation (NASDAQ:CMCSA)’s workforce with access to unified communications via Android or iOS devices.

Wednesday’s trading

In Wednesday’s trading session, CBS Corporation (NYSE:CBS) stock rose by 0.98%. The shares opened at a price of $56.19, climbed to an intraday high of $56.23 and headed to a close of $55.52. Approximately 3.83 million shares were traded on Wednesday and an average volume of 3.67 million shares were traded over a period of 30 days. The 52-week low of the shares was $31.84 and the 52-week high was $57.47. The company has a market capitalization of $33.58 billion.

On Wednesday, Comcast Corporation (NASDAQ:CMCSA) stock dropped by 1.01%. The shares opened at a price of $43.79, climbed to an intraday high of $43.85 and headed to a close of $43.25. Approximately 9.61 million shares were traded on Wednesday and an average volume of 9.74million shares were traded over a period of 30 days. The 52-week low of the shares was $34.94 and the 52-week high was $46.33. The company has a market capitalization of $113.53 billion.



About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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