(2 May 2006 3:00 pm)

MUMBAI: Comcast Corporation has announced that it has completed the previously announced purchase of Susquehanna Communications, the cable television and broadband services division of Susquehanna Pfaltzgraff.

In the transaction, according to an official release, Comcast is acquiring systems primarily in Pennsylvania, New York, Maine, and Mississippi for a net cash investment of approximately $540 million or $440 million after taking into account certain tax benefits. Comcast previously owned approximately 30 percent of Susquehanna Communications.

Comcast chairman & CEO Brian L. Roberts said, "These systems geographically complement our existing service areas, and have been very well managed and fully upgraded. We look forward to serving our new customers with our advanced products and services."

"Our employees are looking forward to providing advanced telecommunication services from Comcast for years to come with the same high level of quality and service that our customers have become accustomed to," said Susquehanna Pfaltzgraff president and CEO Bill Simpson.

With the addition of Susquehanna's approximately 230,000 basic cable customers, 71,000 digital cable customers and 86,000 high-speed Internet customers, Comcast now serves a total of 21.7 million basic cable customers, 10.2 million digital cable customers and 9 million high-speed Internet customers.

Goldman, Sachs & Co. acted as exclusive financial advisor to Comcast Corporation and UBS Investment Bank acted as exclusive financial advisor to Susquehanna Pfaltzgraff.