Comcast Joins Disney In Raising Cash, Selling $4 Billion In Debt Securities

deadline.com:

By Jill Goldsmith Comcast has raised $4 billion from the sale of debt securities, according to an SEC filing in the midst of an escalating economic crisis, following Disney, which raised $6 billion last Friday. “This goes to the saying that use raise money when you can, not when you need it.

Disney and Comcast are the two strongest companies in the media space and investors are happy to lend to them, so it is not surprising that the two of them tapped the bond market,” said one Wall Streeter.

NBCUniversal’s theme parks are closed, movie releases shifted and TV production largely shut down. The Summer Olympics in Tokyo slated to start in July were delayed, putting $1.25 billion of advertising revenue at risk.