Comcast to Pay Founder After Death

Heirs will receive paychecks for 5 years; wife gets benefits for life
By Matt Cantor,  Newser User
Posted Dec 29, 2007 12:17 PM CST
Comcast chairman Brian L. Roberts, from left, Comcast founder Ralph Roberts, Sen. Arlen Specter.   (KRT Photos)
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(Newser) – Death won't stop Comcast's founder from being paid: A deal signed last week ensures that his heirs will receive checks for five years after Ralph J. Roberts, 87, dies, the AP reports. They will also get unpaid funds from his annual performance-based bonus, and his wife will receive health and welfare assistance for life. Roberts, whose 2006 salary was $1.8 million, remains on Comcast's board of directors.

His new contract is effective Jan. 1, when Comcast will also shuffle financial heads: Michael Angelakis will become CFO and treasurer as his current co-chief and treasurer, John Alchin, retires. Roberts' son runs the company, which boasts more than 24 million US cable subscribers, the Philadelphia Inquirer reports.