Comcast buys rest of New England Cable News
Published: June 18, 2009
Updated: June 18, 2009
PHILADELPHIA—Comcast Corp. has purchased the portion of New England Cable News from Hearst Corp. it didn’t already own.
The nation’s largest cable operator acquired the remaining 50 percent of the regional news channel for an undisclosed amount. New York-based Hearst created the news outlet as a joint venture in 1992 with New England cable operators that Comcast eventually acquired.
Hearst is struggling in an advertising slump that has been particularly brutal on local ads.
Comcast said the acquisition, combined with the Comcast SportsNet New England regional network, strengthens the company’s position as a regional source of news and entertainment.
Bill Bridgen, general manager of Comcast SportsNet New England, also will oversee New England Cable News, which has three million subscribers in New England.
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Comcast keeps raising rates, claiming it has to jusy to keep going. But then Comcast acquires properties and companies left and right—and the next thing you know it will raise rates again. And we suckers will keep on paying.
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