Comcast to form new, $4 billion investment company [The Philadelphia Inquirer]
KNIGHT RIDDER/TRIBUNE 9:08 AM ET 3/31/2015
March 31--Michael Angelakis, the top Comcast Corp. executive who headed the negotiations for NBCUniversal and Time Warner Cable Inc., will leave his post to head a new Comcast-controlled company that will invest into growth-oriented companies.
The new company will be capitalized at $4.1 billion.
Angelakis, whom the Wall Street Journal recently named as one of the nation's top CFOs, departs his top-ranking position at the media and technology giant at a sensitive time with the federal and state governments reviewing the Time Warner Cable acquisition.
Brian Roberts, Comcast's chief executive officer, said in a statement on Tuesday morning that the integration and merger plans between Comcast and Time Warner Cable were well-advanced and "Michael is really ready and excited to turn his attention to the next phase of his career and relationship with Comcast."
Angelakis, who held the title of CFO and vice chairman, is considered one of the very top executives at Comcast, in addition to Roberts, NBCUniversal head Steve Burke, Comcast cable division head Neil Smit and Executive Vice President David Cohen.
Angelakis said in a statement that he was "very excited and optimistic about the many opportunities available to Comcast." He said the company was well-positioned.
___
(c)2015 The Philadelphia Inquirer
Visit The Philadelphia Inquirer at www.philly.com
Distributed by Tribune Content Agency, LLC
“There are those who don’t know and those who don’t know they don’t know.”
John Kenneth Galbraith