Comcast (CMCSA)

Risks

• The COVID-19 pandemic has had, and may continue to have, a material adverse effect on our businesses and results of operations.
• Our businesses operate in highly competitive and dynamic industries, and our businesses and results of operations could be adversely affected if we do not compete effectively.
• Changes in consumer behavior continue to adversely affect our businesses and challenge existing business models.
• A decline in advertisers’ expenditures or changes in advertising markets could negatively impact our businesses.
• Programming expenses for our video services are increasing, which could adversely affect Cable Communications’ video businesses.
• NBCUniversal’s and Sky’s success depends on consumer acceptance of their content, and their businesses may be adversely affected if their content fails to achieve sufficient consumer acceptance or the costs to create or acquire content increase.
• The loss of programming distribution and licensing agreements, or the renewal of these agreements on less favorable terms, could adversely affect our businesses.
• Less favorable European telecommunications access regulations, the loss of Sky’s transmission access agreements with satellite or telecommunications providers or the renewal of these agreements on less favorable terms could adversely affect Sky’s businesses.
• Our businesses depend on using and protecting certain intellectual property rights and on not infringing the intellectual property rights of others.
• We may be unable to obtain necessary hardware, software and operational support.
• Our businesses depend on keeping pace with technological developments.
• A cyber attack, information or security breach, or technology disruption or failure may negatively impact our ability to conduct our business or result in the misuse of confidential information, all of which could adversely affect our business, reputation and results of operations.
• Weak economic conditions may have a negative impact on our businesses.
• Acquisitions and other strategic initiatives present many risks, and we may not realize the financial and strategic goals that we had contemplated.
• We face risks relating to doing business internationally that could adversely affect our businesses.
• Natural disasters, severe weather and other uncontrollable events could adversely affect our business, reputation and results of operations.
• The loss of key management personnel or popular on-air and creative talent could have an adverse effect on our businesses.
• We are subject to regulation by federal, state, local and foreign authorities, which impose additional costs and restrictions on our businesses.
• Unfavorable litigation or governmental investigation results could require us to pay significant amounts or lead to onerous operating procedures.
• Labor disputes, whether involving employees or sports organizations, may disrupt our operations and adversely affect our businesses.
• Our Class B common stock has substantial voting rights and separate approval rights over several potentially material transactions, and our Chairman and CEO has considerable influence over our company through his beneficial ownership of our Class B common stock.