Comcast Corp. said it will contribute at least $20 million to a venture capital fund that the cable giant is creating to back minority entrepreneurs in developing new media content and technology.
ROBERTS The move is part of Comcast's effort to ease concerns from minority groups about its proposed deal to take control of General Electric Co.'s NBC Universal. A marriage of the biggest cable and broadband provider with a huge content company has some fearing that there will be a loss of diversity in both in the programming people see and the executives behind the scenes.
In a letter to Rep. Bobby Rush (D-Ill.), Comcast also said it would add to its systems four cable networks whose majority owners are African American.
To read the full, original article click on this link: Comcast promises $20 million for venture capital fund for minority entrepreneurs | Company Town | Los Angeles Times
Author: Joe Flint
