Comcast follows Google and Intel, takes a hit on Clearwire deal |
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Comcast follows Google and Intel, takes a hit on Clearwire deal
Comcast is the latest corporate giant to take an earnings hit because of its investment in Clearwire, the Kirkland broadband wireless company. The country's largest cable company said that fourth-quarter earnings fell 32 percent in part due to a $600 million charge related to its investment in Clearwire.
Other Clearwire investors -- including Intel and Google -- have taken similar charges. Last year, a group of investors pumped $3.2 billion into the money-losing company.
Bloomberg notes that Comcast lost 233,000 basic cable subscribers last quarter due to the troubles in the economy, with analysts only expecting a loss of 150,000 subscribers.
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