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Comcast Business Services video

Letter to Shareholders

Only three years in operation, Comcast Business Services has grown to generate $828 million in revenue in 2009, offering our video, Internet and voice services, plus Ethernet services, to businesses. This relatively new line of business has built real momentum, and we are now expanding the range of customers we target as well as our product offerings. Medium-sized businesses with 20–250 employees spend in the aggregate $10–$15 billion annually on these services—representing a market roughly equal in size to the small-business segment we’ve been concentrating on so far. Cell backhaul is a complementary business that may provide another $1 billion opportunity for Comcast over time.

Building Value in Content: NBC Universal

On December 3, 2009, we announced the NBC Universal transaction with GE, bringing together Comcast’s leading distribution capabilities in cable, broadband and other platforms with the outstanding content creation and distribution businesses of NBC Universal.

The transaction will create a new company with an absolutely first-class collection of entertainment businesses, including top-tier cable programming channels that drive its growth and profitability. We believe the combination of distribution and content will help us extend and accelerate the entertainment options we offer consumers. We will be able to drive innovation in new ways that can only happen by bringing content and distribution together.

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