USHCC Congratulates Comcast Corporation on Ground-Breaking Merger Agreement with Time Warner Cable
February 13, 2014 --
WASHINGTON, Feb. 13, 2014 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) congratulates Comcast for its planned acquisition of Time Warner Cable. This transaction forges an innovative, world-class technology company, with increased capacity to deliver ground-breaking products on an industry-leading network, while expanding operating efficiencies through economies of scale. The newly established company would be led by the current President and Chief Executive Officer of Comcast Cable, Neil Smit.
"Comcast is an industry-leader in communications and mass media. Upon the completion of the merger, the company will plant its stake in the ground as one of the world's most innovative and highly-regarded companies in the field," said USHCC President and CEO Javier Palomarez. "The USHCC is pleased to endorse transactions that increase the quality of services for consumers, businesses and shareholders, while preserving the company's commitment to diversity and inclusion. As a member of Comcast's Diversity Advisory Council, I have first-hand experience of the firm's laudable business model, which places diversity and inclusion at the forefront of its hiring and procurement practices. This exemplary leadership is necessary to assist the growth of America's minority-owned businesses. The USHCC is proud to call Comcast a great friend of our association, and ally of America's small business community."
The merger will also increase Comcast's technological efficiencies, allowing individuals and businesses alike to experience greater internet speeds, enhanced video quality, and provide Comcast and Time Warner customers with more advanced products and services for business and entertainment than ever before.
"The USHCC applauds Comcast's planned acquisition of Time Warner Cable. This is a win-win situation for American businesses, as this merger will result in a broader platform for Comcast to better offer valuable products like high-performance Ethernet and cloud-based management services – all necessary resources for today's business owner, whose growth is increasingly dependent on technology and innovation," said USHCC Chairman of the Board Marc Rodriguez. "Furthermore, this merger will also elevate Comcast's philanthropic works, allowing more consumers to have access to its much needed Internet Essentials program, which provides high-speed internet services to families in need at little to no cost. I trust that Comcast's next chapter will be one of continued, groundbreaking success, as the company leads our nation's consumers and businesses into a new era of innovative broadband technology and inclusive business practices that help move America's economy forward."
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA, CMCSK) is a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. Comcast Cable is the nation's largest video, high-speed Internet and phone provider to residential customers under the XFINITY brand and also provides these services to businesses. NBCUniversal operates 30 news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures and Universal Parks and Resorts. Visit www.comcastcorporation.com for more information.
About Time Warner Cable
Time Warner Cable Inc. (NYSE:TWC) is among the largest providers of video, high-speed data and voice services in the United States, connecting 15 million customers to entertainment, information and each other. Time Warner Cable Business Class offers data, video and voice services to businesses of all sizes, cell tower backhaul services to wireless carriers and enterprise-class, cloud-enabled hosting, managed applications and services. Time Warner Cable Media, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions. More information about the services of Time Warner Cable is available at www.twc.com, www.twcbc.com and www.twcmedia.com.
About the USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of our nation's entrepreneurs. The USHCC advocates on behalf of nearly 3.2 million Hispanic-owned businesses, that together contribute in excess of $468 billion to the American economy, each year. As the leading organization of its kind, the USHCC serves as an umbrella to more than 200 local chambers and business associations across the nation, and partners with more than 220 major corporations.
For more information, visit www.ushcc.com
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CONTACT: Valentina Pereda
USHCC Director of Communications