Brian Roberts thinks Comcast's stock was treated unfairly by investors recently. So he set out on Thursday to make the case for the cable-and-entertainment giant."Last week we made some comments at a conference about the competitive environment," said Roberts, referring to the disclosure made last week that the nation’s largest cable company could lose up to 150,000 TV subscribers this quarter owing to flooding in Houston. "Our company is in great shape."During remarks delivered at an investor conference hosted by Goldman...
Brian Roberts was destined to be a media mogul as the son of Comcast co-founder Ralph Roberts.
Under his leadership, Comcast has grown exponentially through acquisitions of both cable systems and content assets, notably AT&T Broadband in 2001, NBCUniversal in 2011 and DreamWorks Animation in 2016. Since Roberts took over as president in 1990, Comcast’s annual revenue has soared from $657 million to $80.4 billion in 2016.
With the NBCUniversal acquisition, Comcast became the industry’s largest vertically integrated media conglomerate. That scale and its sizable broadband footprint has made Comcast a frequent target for critics of media consolidation. The company’s effort to acquire Time Warner Cable was scuttled in 2015 by regulatory roadblocks and vociferous opposition from media advocacy groups.
Comcast remains tightly controlled by the Roberts family. Brian Roberts’ net worth is estimated by Forbes at $1.7 billion.
A technology buff, Roberts has been intimately involved in Comcast’s R&D and product development to improve its set-top box technology, user interface, listings and navigation guide and multiplatform viewing options. Comcast’s Xfinity-branded operating system is far and away the cable industry leader in innovation.
Roberts first began working at Philadelphia-based Comcast at the age of 15. After graduating from the Wharton School, he joined the company in 1981, working on everything from residential cable installations to marketing. He advanced to executive VP in 1987; by 1999, his father had transferred the bulk of his voting shares in the company to him. Roberts formally took on the CEO title in 2002 and added the chairman role in 2004.
Roberts signaled his interest in expanding significantly into content by mounting an unsolicited $54 billion bid for Walt Disney Co. in 2004.