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Comcast, CFO to create new investment company
2015-03-31 16:31:00| Telecompaper Headlines
(Telecompaper) Comcast has entered into an agreement with the company's vice chairman and chief financial officer, Michael J. Angelakis, to establish a new, strategic company that will focus on investing in and operating growth-oriented companies, both domestically and internationally. Angelakis will serve as the chief executive officer of the new company with the aim of pursuing new areas of growth and diversification for Comcast. The new company will have total capital commitments of up to USD 4.1 billion, of which USD 4.0 billion will be invested by Comcast, at least USD 40 million will be invested personally by Angelakis, and the remainder coming from other senior members of the new company's management team. This new company will have an exclusive ten-year partnership with Comcast as sole outside investor.
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Category:Telecommunications