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Comcast Sets Date for Stock Reclassification

Comcast has set the date – Dec. 10 – for a special shareholders meeting to simplify its stock structure, reclassifying its non-voting Class A Special Common Shares (also known as “K” shares) into Class A voting shares.

Comcast first announced its intention to reclassify the shares in late October.

Comcast said in a proxy statement filed Monday that it is making the moves to avoid confusion concerning its share structure.  Comcast has three classes of stock currently -- Class A shares which hold one vote each (traded on the NASDAQ Exchange under the symbol CMCSA) , Class A Special Common Shares (traded on the NASDAQ under the symbol CMCSK) which have no vote and Class B super voting shares that hold 15 votes each and are not publicly traded.

Comcast said in a proxy statement filed with the Securities and Exchange Commission Tuesday that it will hold the special meeting on Dec. 10 at 8:30 a.m. at the Top of the Tower, 1717 Arch St., Philadelphia.