Comcast struggles with an Olympic dilemma


The Olympics are underway in China, and broadcaster NBCUniversal, a division of Philadelphia-based Comcast Corp., is broadcasting the games. Comcast is in the spotlight to see how it will handle Beijing’s controversial human rights record while covering the Games. Inquirer Reporter Joseph DiStefano covers the fine line that the telecommunications giant walks.

Stay in the know and sign up for Inquirer news alerts.

And please send us your questions, advice and comments. Sign up here to get Business Weekly delivered to your inbox. Thanks for reading.

—Ezequiel Minaya(@zekeminyana, [email protected])

(@zekeminyana, [email protected])

Comcast’s NBC network aired the opening ceremonies of the Beijing Olympics on Friday morning. As the world watches, Comcast faces challenges on all fronts, with advocates for Uyghur, Tibetan, Hong Kong and Taiwanese residents demanding attention for legitimate concerns, while the government demands obedience with its invasive surveillance system.

To top it off, Comcast faces significant home issues: a declining traditional TV audience and the fact that the Games will take place at times that are inconvenient for US and European viewers.

“Comcast is in a tough spot here,” said Craig Moffett, a veteran media analyst at research firm MoffettNathanson. “It was not their choice to host the Games in Beijing. … Now Comcast must deal with the fallout.

Learn more about Comcast and the Beijing Olympics.

Heavy metal: The once thriving Aluminum Shapes factory in Pennsauken has been a fixture in South Jersey for over half a century. In recent years, however, the former aluminum extrusion company declared bankruptcy following a bizarre chapter in which the factory was controlled by Chinese billionaire and aluminum kingpin Zhongtian “Big Boss”. Liu. The sprawling facility is now set to be reborn after being purchased by new investors in part as a logistics hub.

Help: Pennsylvania Governor Tom Wolf is seeking to renew $225 million in small business grants as part of a $1.7 billion coronavirus relief package. Federal money is the bulk of what remains of the roughly $7 billion handed over to the state in March as part of the US bailout. Wolf, a Democrat, faces opposition from some Republican-majority members of the legislature who believe the money should be stashed in a rainy day fund.

Pension surveyed: Officials of the troubled PSERS retirement system have released a long-awaited internal investigation into the $73 billion retirement fund for state public school employees. The report says former PSERS executive Glen Grell told his staff not to respond when board members asked what impact a different accounting method would have on profits. This method produced a lower figure. The council then officially certified a higher figure – a figure it later had to withdraw after a consultancy firm said it had entered incorrect data on returns on investment.

Small businesses are key drivers of the local economy. Governor Tom Wolf is doubling his $225 million in small business grants to help with post-pandemic recovery.

Source link


About Author

Comments are closed.