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Article: Brian Roberts in charge at Comcast.
- Article from:
- Broadcasting & Cable
- Article date:
- November 3, 1997
- Author:
CopyrightCOPYRIGHT 1997 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Comcast Corp. Chairman Ralph Roberts has solidified the ascent of his son, Brian, to succeed him by handing off majority voting power of the Philadelphia-based MSO.
The 77-year-old founder of Comcast last week gave its president, Brian Roberts, voting control of Sural Corp., a family holding company that owns supervoting Comcast Class B stock which controls 82% of the shareholder votes.
The move gives Brian Roberts almost total power over Comcast, allowing him to dictate major moves and, most important, when or if the company could be sold.
The Roberts family holds some 13.2 million shares, less than 4% of Comcast's equity. That share is worth ...