Comcast President Gets Majority Voting Stake
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PHILADELPHIA — Comcast Corp. said Chairman Ralph Roberts turned over a majority of the voting power of the company to Brian Roberts--his son and Comcast president.
The move paves the way for the Roberts family to retain control of the company, with Ralph Roberts, 76, remaining as chairman.
With 3.12 million subscribers, Comcast is the nation’s sixth-largest cable television company. The company also operates a cellular telephone business and the QVC cable TV shopping channel.
Through its Sural Corp. holding company, the Roberts family owns 8.8 million shares of Comcast’s thinly traded Class B stock, which gives the family 82% of the voting power at Comcast.
Brian Roberts will have control of Comcast’s subsidiaries, Comcast Cable Communications Inc., Comcast Cellular Holdings Inc. and Comcast UK Cable Partners Ltd.
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