Comcast: From Mississippi Community Antenna System To Cable Giant - WLOX.com - The News for South Mississippi

02/11/04

Comcast: From Mississippi Community Antenna System To Cable Giant

Key events in Comcast Corp.'s history:

1963 - Ralph Roberts, former marketer of Muzak and owner of a belt and suspenders company, starts Comcast with 1,200-subscriber community antenna television system in Tupelo, Miss.

1969 - American Cable Systems is renamed Comcast and incorporated in Pennsylvania.

1972 - Roberts takes Comcast public.

1990 - Son Brian Roberts, after working his way up through various posts, becomes president and pursues vigorous expansion.

1996 - Comcast completes $1.49 billion acquisition of E.W. Scripps Co.'s cable television operations, raising its total subscribers to 4.3 million.

1996 - Comcast announces $520 million deal to buy majority ownership of Spectacor, owner of the Philadelphia Flyers, the 76ers and the Spectrum and Corestates Center, the city's two indoor sports arenas.

2001 - After acquiring rival cable systems including Jones Intercable and Lenfest Communications, Comcast grows to nation's third largest cable operator with more than 8 million subscribers.

2002 - Comcast completes acquisition of AT&T's cable division for about $29 billion in stock to become the nation's largest cable operator with more than 20 million subscribers, nearly twice as many as second-place AOL Time Warner.

Feb. 11 - Proposes to buy media and entertainment powerhouse Walt Disney Co., owner of ABC and ESPN television networks, movie studios and theme parks, for about $54 billion in stock.

(Copyright 2004 by The Associated Press. All Rights Reserved.)

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