Reid was an outside legal adviser for Comcast in the Sky transaction, which was not easy. The company beat out 21st Century Fox (FOX) and Walt Disney (DIS) and ended up paying more than it had originally intended for the asset. Comcast views Sky as a crown jewel, given its extensive reach across Europe.
Comcast is freshening its legal team as it attempts to cope with its rapidly evolving industry, where it is no longer business as usual for legacy media companies. Like Dish Network (DISH) and AT&T (T), Comcast is planning to launch its own video streaming service to respond to cord-cutting, going head-to-head with rivals that are drawing away its pay-TV customers. Comcast lost 29,000 pay-TV subscribers in the fourth quarter.
View more information: https://marketrealist.com/2019/03/why-comcast-chose-thomas-reid-as-its-top-lawyer/