Comcast Corporation Closes Deal on Advertising Startup Freewheel (CMCSA)
The Philadelphia-based broadcasting giant, Comcast (CMCSA), announced on Thursday that it has acquired Freewheel, an advertising startup.Although the companies did not reveal any financial details about the acquisition, a source familiar with the deal noted that the transaction was valued at approximately $360 million. Comcast acquired the startup, which specializes in personalizing online advertisements for media clients, including 21st Century Fox and Viacom (VIAB), in an effort to expand its presence in the digital advertising space. Comcast has been on an acquisition spree after it recently agreed to buy Time Warner (TWX) for $45 billion on February 13th.
Comcast shares inched higher on Thursday, gaining $0.22, or 0.42%, as the trading session drew to a close.
The Bottom Line
Shares of Comcast (CMCSA) are yielding 1.73% based on Thursday’s closing price of $52.11 a share.
Comcast (CMCSA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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