Saturday, August 29, 2015

PhillyInc channels word that Comcast may sell G4

After committing to spend billions of dollars on the Olympics this week, Comcast is apparently also trying to unload some parts of its media empire.

PhillyInc channels word that Comcast may sell G4

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You should see what the other guy looked like. (Ron Cortes / Staff Photographer)
You should see what the other guy looked like. (Ron Cortes / Staff Photographer) Ron Cortes / Staff Photographer

Now I get it. Comcast spends north of $5B to retain Olympics broadcast rights and Orlando theme parks, but it's not just a buyer. It's a potential seller, too.

With the Sixers in play (if not still playing), Comcast may be showing that it wants to focus on its "core competencies," as business wonks are wont to say. So sales of some operations are inevitable. That's why it is apparently in talks to sell a controlling interest in the G4 cable channel to the Ultimate Fighting Championship. (Now there's a negotiating session that could get bloody.) Here's a link to a New York Times report.

Never watch G4? Me neither. Not that I could tell you much about anything on TV really. Who's got time to keep up with the Kardashians when there are so many page-turning speeches by Federal Reserve-types to read?

I really hope management consulting firm McKinsey & Co. is wrong, but its latest projection is that 30 percent of employers will "definitely" or "probably" stop offering health coverage after 2014. That's based on a survey of more than 1,300 employers and it's estimate is far above others. The Congressional Budget Office guesstimated 7 percent, for example.

Still I do hear a lot of small businesses say that that's just what they hope to do, because the fines they would pay offer a way to stabilize their health-care costs. Currently, the direction has always been up. The only question annually has been: How much more?

Here's a link to a Reuters report on the McKinsey study. If you want to read what McKinsey has to say directly, you'll have to register at its site.

Finally, those weekly jobless claims (a volative data set) rose again, when lots of seers predicted they would decline. They came in at 427,000, up 1,000 from the previous week.

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About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

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