Comcast Issues Preferred Shares in Private Placement to Subsidiaries
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Comcast Corporation announced an unregistered sale of 872,791.0278 Preferred Shares to its wholly-owned subsidiaries as part of a planned spin-off of certain cable networks and digital assets. The Preferred Shares are redeemable for Comcast’s Class A Common Stock and will be automatically redeemed if the spin-off is completed. This transaction ensures subsidiaries do not receive shares of Class A Common Stock of Versant Media Group, Inc. The sale relied on the exemption from registration under Section 4(a)(2) of the Securities Act of 1933.
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