tiprankstipranks
Comcast Announces ViacomCBS Content Deal, 10G Milestone
Market News

Comcast Announces ViacomCBS Content Deal, 10G Milestone

Comcast (CMCSA) has reached a multi-year content distribution agreement with ViacomCBS (VIAC) that will benefit its Xfinity customers. The company has also achieved another milestone in its 10G program.

On the content distribution deal, Comcast’s Xfinity customers will gain access to ViacomCBS’ full programming portfolio. This includes networks such as CBS Television, CBS Sports, Showtime, BET, Comedy Central, and Nickelodeon. Also included are streaming services Pluto TV and Paramount+.

“ViacomCBS continues to be a great partner, and we are very pleased to provide our Xfinity customers with access to their content across our industry-leading platforms,” commented Rebecca Heap, Senior Vice President, Consumer Products & Propositions, Comcast Cable.

ViacomCBS notes that the deal strengthens its long-term partnership with Comcast.  Ray Hopkins, President, U.S. Networks Distribution, ViacomCBS, said, “ViacomCBS is a cornerstone content provider, and we look forward to serving millions of Xfinity customers with greater access to their favorite channels and programming from our leading brands.”

ViacomCBS programming will be available on X1 and Flex devices and customers will be able to access the content simply by saying the name of a channel or streaming service through the Xfinity Voice Remote.

Comcast did not reveal the financial terms of the ViacomCBS content deal.

10G Technology Milestone

Comcast has continued to make progress in its 10G journey as it works to deliver faster broadband to homes. In the latest achievement, the company announced that a prototype 10G modem built by Broadcom (AVGO) and powered by its 10G network technology was able to deliver upload and download speeds of 4Gbps in a lab trial. 

In 2021, Comcast announced several milestones in its 10G program. For example, it completed the first-ever live lab trial of a 10G system-on-chip. It also successfully tested a complete 10G connection in which it used a virtualized cable modem termination system (vCMTS) powered by DOCSIS 4.0 technology.

Analysts’ Take

Goldman Sachs analyst Brett Feldman recently reiterated a Buy rating on Comcast stock with a price target of $62, which suggests 20.9% upside potential. Although broadband net adds may slow down, the analyst expects Comcast to continue posting strong cable EBITDA growth. Furthermore, Feldman is of the view that Comcast could repurchase nearly 40% of its market cap by 2026. The analyst also believes that the stock offers an attractive valuation following the recent pullback from its peak.

Consensus among analysts is a Moderate Buy based on 8 Buys and 4 Holds. The average Comcast price target of $60.18 implies 17.36% upside potential to current levels.

Download the TipRanks mobile app now.

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Read full Disclaimer & Disclosure

Related News:
Visa Launches Visa Acceptance Cloud Platform for POS Payments
Marks & Spencer: Record Sales of Food for Christmas
SSR Mining Sells Pitarrilla Project for $127M

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles