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Comcast CEO Brian Roberts Extends Contract By a Year

Comcast Chairman and CEO Brian Roberts has extended his contract at the cable giant by a year, according to filings with the Securities and Exchange Commission.

His new contract will expire on June 30, 2015 and continues the media executive’s habit of extending his employment agreements for one year terms on an annual basis. The contract is also something of a formality as the Roberts family firmly controls Comcast.

The move comes as Comcast is trying to earn regulatory approval for its proposed $45.2 billion acquisition of Time-Warner Cable. Under Roberts, Comcast has shown a willingness to make bold moves, such as its 2011 purchase of NBC-Universal.

The deal for Time-Warner Cable would make Comcast the most dominant purveyor of cable and Internet service in the country, extending its reach into major cities such as New York and Los Angeles and giving it roughly 29 million subscribers.

Last year, Roberts earned $31.4 million in salary, options and other compensation, a 7.7% increase from his $29.1 million compensation package in 2012.

Comcast’s stock closed down 0.83% on Monday at $53.68.

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