Deals chatter and debate always surrounds Comcast, led by chairman and CEO Brian Roberts. It came as no surprise then that since the May news of the Discovery-WarnerMedia merger, Wall Street observers have wondered if the media and telecom giant that owns NBCUniversal and Sky may look to boost its scale via an acquisition or other deal.
Roberts on Comcast’s second-quarter earnings conference call once again addressed his thoughts on the need for further consolidation, and while he dismissed the idea of major acquisitions, he seemed open to global partnerships, particularly as it relates to streaming.
“I love the company we have got, I can’t imagine a better quarter, and I believe we have much more organic growth ahead,” Roberts said. “We have a very special unique company across both distribution and content, that work so well together … We don’t need M&A, we have a majority broadband-centric company, and we like the mix.”
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Morgan Stanley analyst Benjamin Swinburne noted a recent Wall Street Journal report that the company “was assessing potential M&A options, including ViacomCBS and Roku. The company relayed through CNBC that this was ‘pure speculation’.”
However a recently reported meeting between Roberts, ViacomCBS chair Shari Redstone and ViacomCBS CEO Bob Bakish could lead to an international streaming partnership between the two sector giants, some have suggested. That could leverage the combined power of Comcast’s Peacock and ViacomCBS’ Paramount+, advertising-supported Pluto TV and other streaming services.
“What that might lead us to consider at least would be a partnership where we have unique capabilities that could lead to or enhance our international distribution,” Roberts said.
Roberts said Thursday that it would begin rolling out Peacock in international markets, starting with its 20 million Sky homes in Europe.
Paramount+ has launched in Latin America and Australia, with the company targeting to be available in 45 markets by next year.
Roberts has emphasized several times in recent months that he likes Comcast’s current asset mix and portfolio.
“We are very pleased with our assets, our talent, our culture, the strategy,” he said in early June. “We think we have a unique company well-positioned to compete vigorously for talent, for customers and for growth in the years ahead.”
