Comcast to launch four minority-owned networks

Comcast (Nasdaq: CMCSA) said Tuesday that it will launch four minority-owned cable networks, including channels backed by NBA great Magic Johnson and singer Sean "Diddy" Combs. Distributing the independent networks will help it adhere to a commitment it made to regulators that approved its merger with NBCUniversal.

Johnson came out in support of Comcast's merger with NBCUniversal in 2010, and wrote a letter to the U.S. House Judiciary Committee, urging that the deal be approved.

The first of the four new channels, BabyFirst Americas, will debut in April. The network, which is run by former Turner Broadcasting and Disney ABC Cable Networks executive Constantino "Said" Schwarz, will focus on programming for infants, very young children and their parents. It will challenge preschool networks such as Viacom's (NYSE: VIA) Nick Jr., Disney's (NYSE: DIS) Disney Junior and Sprout.

Comcast said it'll flip the switch on Aspire, a network "dedicated to delivering enlightening, entertaining and positive programming to African-Americans families," this summer. The channel, which is backed by Johnson and GMC TV, will feature movies, documentaries, short films, comedy and faith and inspirational programs.

Combs is backing Revolt, a network focused on music and pop culture that is set to debut in 2013. Comcast said it will also launch El Rey, a "general entertainment network in English for Latino and general audiences," in January 2014. El Ray is backed by Hollywood director Robert Rodriguez and FactoryMade Ventures executives John Fogelman and Cristina Patwa.

Comcast plans to carry the four networks on its digital basic programming tier. While Comcast doesn't break out the number of homes that subscribe to digital basic, spokesman John Demming said that the networks would be distributed to "millions of homes."

Landing a slot on Comcast, the nation's largest pay TV distributor, could help BabyFirst, Aspire, Revolt and El Ray strike distribution deals with DirecTV (Nasdaq: DTV), Time Warner Cable (NYSE: TWC), Verizon (NYSE: VZ) and other pay TV providers.

For more:
- see the news release

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