Cambridge Reaches Agreement With Comcast On 10 Year Cable TV Renewal License
After an extensive public process, involving six focus groups, telephone and online surveys, financial and technical compliance reviews and a public hearing in February 2010, followed by a lengthy negotiation process, the City has entered into a ten year Cable Television Renewal License with Comcast, from July 1, 2011 through June 30, 2021. The 2011 Renewal License features annual payments of 5% of Comcast’s Annual Gross Revenues derived from the services it provides to Cambridge subscribers, which currently generates an annual revenue stream of approximately $1,400,000, a capital grant of $1,772,000 paid out over the ten year license term and equipment upgrades to the cable system. The City has also negotiated a ten year agreement with Comcast for a 10% Senior Citizen Discount on Basic Service and on Digital Starter Service for eligible seniors. A copy of the 2011 Renewal License and the Senior Discount Agreement are attached.