Sliding Comcast Refocuses as Phone Companies Dial In

Competition, technology require refocusing
By Jim O'Neill,  Newser User
Posted Nov 8, 2007 12:23 PM CST
Iron workers Ray Clarkson, left, and Wayne Bendistis, right, set in place a floor joist atop of the Comcast Center during a topping off ceremony in Philadelphia, Monday, June 18, 2007. The Comcast Center...   (Associated Press)
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(Newser) – The face of cable television is changing as phone companies move in, offering high-speed Internet, high-def TV, and on-demand video, the Wall Street Journal reports. But cable giant Comcast, with the nation’s largest subscriber base, is fighting back, gaining 10 phone users for every video subscriber it loses and cutting into its competition. Nevertheless, its stock is hurting.

Comcast’s inability to stem the bleeding of its core business continues to push share prices down; it closed at $20.09 yesterday. Execs predict “the stock will take care of itself" as they look for new business opportunities and push HDTV and phone offerings. Investors worry a move to buy a wireless company or content provider could hurt even more.