Comcast board OKs proposal to reclassify its shares
Comcast’s board has approved a proposal that would reclassify its shares so that only its Class A common shares remain.
The proposal would reclassify all of the cable television operator’s Class A special common stock into Class A common stock, subject to shareholder approval.
Comcast Corp. said Monday that its board determined the reclassification was in the best interests of the company and its shareholders and would eliminate confusion caused by having two classes of publicly traded stock. The Philadelphia-based company said the move would also improve the trading liquidity of its publicly traded stock.
Comcast plans to hold a special meeting of its shareholders to vote on the reclassification. Shareholders of record on Oct. 20 are entitled to vote at the special meeting.
Shares of Comcast rose 16 cents to $62.14 in morning trading.
WHYY is your source for fact-based, in-depth journalism and information. As a nonprofit organization, we rely on financial support from readers like you. Please give today.
New Jersey Transit approves a 15% fare hike, the first increase in nearly a decade
The increase, which takes effect July 1, also calls for annual, regular fare increases of 3% in subsequent years. It's the first time rates will rise in nearly 10 years.
1 week ago
Investors pour $1B into Delaware River waterfront projects over 10 years
There’s a steady pipeline of projects planned along the Philly waterfront — including apartments, retail and a public park — even though one developer paused mid-construction.
2 weeks ago
Listen 1:11
Vice President Kamala Harris unveils more student debt relief measures in North Philly
The Biden administration expects the debt relief program will help 30 million people nationwide.
2 weeks ago
Listen 1:00