<SEC-DOCUMENT>0000950103-21-017973.txt : 20220315
<SEC-HEADER>0000950103-21-017973.hdr.sgml : 20220315
<ACCEPTANCE-DATETIME>20211117135502
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-21-017973
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20211117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMCAST CORP
		CENTRAL INDEX KEY:			0001166691
		STANDARD INDUSTRIAL CLASSIFICATION:	CABLE & OTHER PAY TELEVISION SERVICES [4841]
		IRS NUMBER:				270000798
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ONE COMCAST CENTER
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103-2838
		BUSINESS PHONE:		215-286-1700

	MAIL ADDRESS:	
		STREET 1:		ONE COMCAST CENTER
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103-2838

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AT&T COMCAST CORP
		DATE OF NAME CHANGE:	20020206
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><IMG SRC="image_001.jpg" ALT=""><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><U>VIA EDGAR</U></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">November 17, 2021</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Mr. Mitchell Austin, Staff Attorney</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Ms. Anna Abramson, Staff Attorney</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Division of Corporation Finance</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Office of Technology</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">U.S. Securities and Exchange Commission</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">100 F Street, N.E.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Washington, D.C. 20549</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Comcast Corporation</B></FONT></TD></TR>
  </TABLE>
<DIV STYLE="padding: 0in 0in 0in 27pt; margin-right: 0in; margin-left: 0pt; border-left-width: 0in; border-left-color: Black"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Form 10-K for the Year Ended December
31, 2020</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>File No. 001-32871</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Dear Mr. Austin and Ms. Abramson:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Comcast Corporation (the &ldquo;Company,&rdquo;
or &ldquo;we,&rdquo; &ldquo;our&rdquo; or &ldquo;us&rdquo;) is writing this letter in response to the comment letter of the Staff of
the Securities and Exchange Commission (the &ldquo;Staff&rdquo; of the &ldquo;Commission&rdquo;) dated October 19, 2021, issued in response
to the Company&rsquo;s letter dated September 28, 2021 (the &ldquo;Prior Response Letter&rdquo;) in response to the Staff&rsquo;s initial
comment letter dated September 14, 2021, all relating to the Company&rsquo;s Form 10-K for the year ended December 31, 2020 (the &ldquo;Form
10-K&rdquo;).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">As a number of the Staff&rsquo;s comments
request information on how the Company considered providing disclosure in respect of certain matters, or how the Company determined the
materiality of certain effects or impacts, we thought that it would be useful to describe the Company&rsquo;s general approach in this
regard.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">In the course of preparing non-financial
statement disclosures required to be included in the Form 10-K, the Company broadly considers the following sources, among others:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">the
                                            disclosure requirements set forth in the various items of Form 10-K;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">the
                                            provisions of Regulation S-K that apply to Form 10-K and set out what information is required
                                            to be included in the Form 10-K;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Rule
                                            12b-20 under the U.S. Securities Exchange Act of 1934, as amended, which requires disclosure,
                                            in addition to the information expressly required by Commission regulation, of &ldquo;such
                                            further material information, if any, as may be necessary to make the <FONT STYLE="font-size: 10pt">required statements, in light
of the circumstances under which they are made, not misleading;&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>i
</SUP></FONT>and</FONT></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">the
                                            Commission&rsquo;s guidance, including the Commission&rsquo;s Guidance Regarding Disclosure
                                            Related to Climate Change (the &ldquo;Climate Guidance&rdquo;).<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>ii</SUP></FONT></FONT></TD></TR>
</TABLE></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Many of the provisions of Regulation
S-K, as well as Rule 12b-20 and the Climate Guidance, rely on the concept of &ldquo;materiality&rdquo; to determine what information
should be disclosed in response to any particular requirement. In determining the materiality of information in this regard, the Company
refers to the well-established materiality standard accepted by the Commission: information is material if there is a &ldquo;substantial
likelihood that the disclosure of the omitted fact would have been viewed by the reasonable investor as having significantly altered
the &lsquo;total mix&rsquo; of information made available.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>iii</SUP></FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Throughout the remainder of this letter,
we refer to the above as our Disclosure Approach.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">In addition, we note that this letter
includes statements that are forward-looking in nature. In particular, all statements concerning our expectations with respect to the
impact of climate change and severe weather events are based on information that is currently available to us and assumptions that we
believe are reasonable. However, all forward-looking statements inherently involve risks and uncertainties, including those risks and
uncertainties identified in our filings with the Commission, that could cause actual results to differ materially from those expected.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">* * *</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">For your convenience, we have reproduced
the Staff&rsquo;s comments preceding our responses below. Please let us know if you have any questions or if we can provide additional
information or otherwise be of assistance in expediting the review process.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><I>1.</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Your response to prior comment
                                            1 refers to current or pending climate-related laws and regulations in the jurisdictions
                                            where you operate. Explain in greater detail how you determined whether these laws and regulations
                                            are reasonably likely to have a material effect on you. Also, tell us how you considered
                                            providing disclosure regarding the difficulties involved in assessing the timing and effect
                                            of pending climate-related laws or regulations.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B><U>Response
</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">As noted in the Prior Response
Letter, while certain jurisdictions where we operate have current or pending climate-related laws and regulations, such as vehicle emission
standards, new electric vehicle mandates, building energy codes that impose efficiency mandates and carbon taxes, we have determined,
applying our Disclosure Approach, that no material climate-related laws or regulations were required to be described in the Form 10-K.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">More generally, in considering
our disclosure obligations in respect of laws and regulations applicable to our businesses, whether identified as climate-related or
otherwise, we are cognizant of the guidance provided by the Commission in its &ldquo;Modernization of Regulation S-K Items 101, 103,
and 105&rdquo; that Item 101(c) reflects a &ldquo;principles-based approach&rdquo; designed to allow a registrant to disclose &ldquo;only
those governmental regulations that are <I>of particular importance to it</I>.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>iv
</SUP></FONT><I>(emphasis added.) </I>The Company similarly considers the disclosure requirements of other provisions of Regulation S-K
that may be implicated by the laws and regulations to which the Company is subject, such as other provisions of Item 101 and Items 103,
303 and 503(c), among others.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">These considerations involve,
among other things:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">the
                                            actual or reasonably foreseeable potential impact of current laws or regulations on our business,
                                            including demand for our products and services, the actual and reasonably foreseeable impact
                                            on our ability to provide products and services, the competitive landscape of our businesses
                                            and consumer behavior and preferences;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">the
                                            actual or reasonably foreseeable potential costs to comply with current laws or regulations,
                                            including actual or reasonably foreseeable capital expenditures and costs that might impact
                                            our ability to continue to provide our products and services; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">with
                                            respect to laws or regulations that have been proposed but not enacted or adopted, the likelihood
                                            that the proposal will be enacted as proposed and the reasonably foreseeable potential impacts
                                            and costs to our business if so enacted or adopted.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">In determining whether laws
and regulations are reasonably likely to have a material effect on us, we consider, in short, whether there is a substantial likelihood
that a reasonable investor would consider information concerning any particular law or regulation important in deciding how to vote or
make an investment decision, or, put another way, if providing (or not providing) information on such law or regulation would significantly
alter the total mix of information made available.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">As a result, the Form 10-K
contains extensive disclosure about current and pending communications-related laws and regulations, which are of particular importance
to us given the nature of the services we offer. We believe that these laws and regulations, and any changes thereto, could have material
impacts on our core businesses &ndash; namely, our communications services such as broadband internet and video services and our broadcast
media businesses &ndash; and could have disproportionate impacts on our operations as compared to certain of our competitors. In contrast,
given the nature of the industries in which we operate, we believe that specific severe weather impact-related or climate-related laws
and regulations, including the following examples, have not had, and we expect are not reasonably likely to have, material adverse effects
on our company for the foreseeable future, given their financial or other impact. For example:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The
                                            California Public Utility Commission requires certain providers of wireline services to maintain
                                            backup power at facilities in high wildfire risk areas. Although these regulations encourage
                                            the use of green energy backup facilities, they do permit the use of brown energy backup
                                            facilities. We estimate that compliance with the California Public Utility Commission&rsquo;s
                                            backup power requirement will require an average of approximately $44 million in annual capital
                                            expenditures over three years beginning in 2021. For context, this annualized amount represents
                                            approximately 0.5% of our capital expenditures of $9.2 billion in 2020.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Internationally,
                                            we pay carbon taxes based on certain gas and electricity usage and diesel tank storage in
                                            certain jurisdictions. By way of example, our largest international operations are conducted
                                            through our Sky business in Europe, which has been carbon neutral since 2006. As such, Sky
                                            paid approximately &pound;1 million of carbon taxes in 2020. For context, this amount represents
                                            less than 0.01% of our other operating and administrative costs and expenses of $33.1 billion
                                            in 2020.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">The
                                            States of Washington and California will require that all cars sold or purchased in those
                                            states be electric by model year 2030 or 2035, respectively, and the State of New York will
                                            ban the sale of fossil fuel vehicles starting in 2035. Similar mandates exist in certain
                                            other <FONT STYLE="font-size: 10pt">international
jurisdictions, including in Europe. Our vehicle needs are currently met through both owned- and leased-fleets. For owned-fleets, we expect
that the incremental costs of purchasing electric vehicles in place of traditional vehicles in these states will be managed in the normal
course of our vehicle replacement programs through our annual budgeting and long-range financial planning processes. For our leased-fleets,
we expect that the providers through which we lease vehicles will make electric vehicles available to us once they become more broadly
available and that any incremental costs associated with leasing such vehicles will similarly be managed through our annual budgeting
and long-range financial planning processes.</FONT></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"></FONT></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Other
                                            jurisdictions where we operate have current or pending building codes requiring certain energy
                                            efficiency standards. Costs to comply with these regulations are integrated within our ordinary
                                            course property maintenance activities, are not separately broken out and are incorporated
                                            into local business unit budgets and long-range financial planning processes in the normal
                                            course of business.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Regarding the Staff&rsquo;s
question about disclosures regarding the difficulties involved in assessing the timing and effect of pending climate-related laws or
regulations, we acknowledge that there is a significant amount of inherent uncertainty in legislative and administrative rulemaking processes.
To that end, consistent with the approach set forth in the Climate Guidance, for pending climate-related laws and regulations that we
are unable to determine are not reasonably likely to be enacted in all material respects as proposed, we assume such law or regulation
would be enacted. We then consider whether any such laws and regulations are reasonably likely to have a material effect on our business,
results of operations or financial condition. In this regard, we were and remain conscious of our general obligation, in the context
of our MD&amp;A disclosure, to describe any &ldquo;known material trends and uncertainties.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>v</SUP></FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">As a result of the considerations
as outlined above, we have determined that there is not a substantial likelihood that a reasonable investor would consider information
concerning any particular current or pending severe weather impact-related or climate-related law or regulation, individually or in the
aggregate, important in deciding how to vote or make an investment decision.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Finally, as we noted in the
Prior Response Letter, the Company will continue to evaluate whether inclusion of material information in respect of pending or existing
severe weather impact-related or climate-related laws and regulations may be required in future filings with the Commission in accordance
with Commission rules and regulations then in effect.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><I>2.</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Your response to prior comment
                                            2 states that you have not experienced material indirect consequences of climate-related
                                            regulation or business trends and that you do not believe any such trends are reasonably
                                            likely to have a material impact on your business, results of operations or financial condition.
                                            Please describe the indirect consequences you considered in your analysis and explain how
                                            you concluded they were not material.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B><U>Response</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">As we noted in the Prior
Response Letter, we have not experienced material indirect consequences of climate-related regulation or business trends. As described
in greater detail below, indirect consequences that we have considered in our analysis include whether we have experienced decreased
demand or increased competition for, or reputational risks resulting from, our products or services due to their level of greenhouse
gas emissions or use of carbon-based energy sources, including energy consumption by our customers to use our products and services.
Further, we do not <FONT STYLE="font-size: 10pt">expect that any such trends
(should they materialize) are reasonably likely to have a material impact on our business, results of operations or financial condition
in the foreseeable future. However, were any such material trends to materialize, the Company recognizes our obligation to make any required
disclosure.</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Specifically, the indirect
consequences of climate-related regulation or business trends we have considered in our analysis include the following.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">We
                                            primarily provide communications services, such as broadband, video, phone and wireless phone
                                            services, create and distribute media and entertainment programming and operate theme parks.
                                            Competition for our businesses in general depends on pricing, quality and reliability of
                                            our services, quality of our programming and our theme park experiences. We believe that
                                            reasonably foreseeable indirect consequences of climate-related regulation or business trends
                                            for our business therefore would primarily include consideration as to whether we have lost,
                                            or acquired, customers as a result of our carbon emissions, either in isolation or as compared
                                            to the carbon emissions of our competitors and any potential associated reputational risks.
                                            As disclosed in the Form 10-K, we continue to add customer relationships in our Cable Communications
                                            and Sky businesses consistent with prior year trends, including growing our broadband services
                                            customers, and NBCUniversal&rsquo;s businesses continue to compete effectively in the ordinary
                                            course of business against other media and theme park businesses. Therefore, we do not believe
                                            that the number of broadband services customers or attendance at our theme parks has been
                                            impacted, positively or negatively, by our carbon footprint. Moreover, we have for many years
                                            collaborated with other companies in our industry and suppliers to reduce the energy consumption
                                            of devices such as set-top boxes for cable services in customer homes such that we expect
                                            competition for customers in the communications industry is unlikely to be impacted by the
                                            amount of energy required for such devices.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">As
                                            previously noted, we set a goal in May 2021 to be carbon neutral across our Scope 1 and 2
                                            emissions by 2035 and have begun long-range planning to help us achieve that goal. In assessing
                                            potential reputational risks to our business, we considered that goal and the steps we have
                                            taken and expect to continue to take as we further refine our goals and plans, as science
                                            and technology further evolve, and as practices emerge to better adapt to climate change
                                            risks over time.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><I>3.</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Your response to prior comment
                                            3 states that severe weather events have impacted your business and operations for many years
                                            and discusses some severe weather mitigation efforts; however, it does not appear to discuss
                                            the significant physical effects of climate change, such as effects on the severity of weather,
                                            on your operations and results. Accordingly, please revise to discuss the physical effects
                                            of climate change on your operations and results or explain in greater detail how you concluded
                                            that such effects have been, and are expected to continue to be, immaterial to your operations
                                            and results. In order to help us assess your response, please provide a quantification of
                                            material weather-related damages to your property or operations, a discussion of how weather
                                            related impacts have affected or may affect your customers and suppliers and a discussion
                                            of any weather-related impacts on the cost or availability of insurance.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt"><B><U>Response </U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">As we noted in the Prior
Response Letter, we have experienced severe weather events, such as hurricanes and floods, that have impacted our business and operations
in various parts of the United States and internationally, and we have incurred costs in connection with related mitigation efforts.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Although, as described in
greater detail below, the impact of such events and mitigation efforts have not been material to date, the Company will continue to monitor
the impact of severe weather events to evaluate whether inclusion of material information relating to such events may be required in
future filings with the Commission.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Regarding the Staff&rsquo;s
question to discuss the physical effects of climate change on our operations and results or to explain how we concluded such effects
have been, and are expected to continue to be, immaterial to our operations and results, we note that in the Climate Guidance, the Commission
stated that &ldquo;[s]ignificant physical effects of climate change &hellip;[include] effects on the severity of weather (for example,
floods or hurricanes), sea levels, the arability of farmland, and water availability and quality.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>vi</SUP></FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Consistent with our Disclosure
Approach, we consider whether there is a substantial likelihood that a reasonable investor would consider information concerning the
severity of physical effects of climate change on our business important in deciding how to vote or make an investment decision, or,
put another way, if providing (or not providing) information on such effects would significantly alter the total mix of information made
available. We also consider, similar to our response to Comment 1, the actual and reasonably foreseeable potential impact of the severity
of weather events on our results of operations and financial condition.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">By way of example, when considering
whether disclosure of the impact of the physical effects of climate change is required under Item 303 of Regulation S-K, the Company
considers whether the physical effects of weather-related events (such as floods, hurricanes and wildfires, rising sea levels and the
availability and quality of water) constitute a known trend or uncertainty that is reasonably likely to have a material impact on the
Company&rsquo;s operating results and material cash requirements. As part of this analysis, we consider the impact on our operating results
of severe weather events, as well as the reasonably foreseeable likelihood that the severity of weather-related events and any such weather-related
costs could increase in the foreseeable future, the potential magnitude of such increase and related capital expenditures, and weather-related
impacts on the cost or availability of insurance.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Based on these considerations,
including the associated costs described below, we have determined that the actual impact of severe weather events has not been, and
we expect is not reasonably likely to be, material to our results of operations or financial condition. For completeness, the Company
also notes that we do not consider the other significant physical effects of climate change identified by the Climate Guidance, <I>i.e.</I>,
sea levels, the arability of farmland, and water availability and quality, to be material to the Company currently or in the reasonably
foreseeable future.<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>vii</SUP></FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Notwithstanding the foregoing,
in the &ldquo;Risk Factors&rdquo; section of the Form 10-K, the Company has noted that, to the extent it experiences material weather-related
damages in the future, such damages could result in a variety of adverse consequences for our business. Specifically, we disclosed that
&ldquo;severe weather events such as hurricanes and wild fires have impacted our services, products and properties from time to time
in the past and will in the future&rdquo; and that such events &ldquo;may result in large expenditures to repair or replace the damaged
properties, products, services, networks or information systems to protect them from similar events in the future, and any such events
could lead to litigation or otherwise have an adverse effect on our results of operations.&rdquo;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">The Staff also requested
that we provide a quantification of material weather-related damages to our property or operations, discuss how weather-related impacts
have affected or may affect our customers and suppliers and discuss weather-related impacts on the cost or availability of insurance.</FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">For the three years ended
December 31, 2020, hurricanes and wildfires in California impacted our Cable Communications segment as follows: (i) capital expenditures
of $1 million, $51 million and $82 million in 2020, 2019 and 2018, respectively; (ii) operating costs and expenses of $5 million and
$13 million in 2020 and 2018, respectively; and (iii) $17 million of customer credits issued for service outages in 2018. For reference,
in each of these years, these amounts, not including insurance reimbursements received, represented 1% or less of the corresponding Cable
Communications segment capital expenditures, operating costs and expenses and revenue for such year. Impacts to our customers of such
events typically include loss of service until we are able to restore service. We are not aware of material impacts to our suppliers&rsquo;
ability to provide goods or services to us as a result of severe weather, although certain utility providers have and we expect will
continue to migrate some of their electric lines, to which we attach devices to provide our cable services, from poles above ground to
underground. We do incur costs in that instance, and expect to spend an average of $9 million in annual capital expenditures in each
of 2021 to 2025 as a result of moving such pole attachments underground.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Although severe weather events
have had a more tangible direct impact on our Cable Communications segment, these types of events also impacted the NBCUniversal segments
during the three years ended December 31, 2020. In 2018, multiple severe weather events, including earthquakes and typhoons, occurred
in Japan that resulted in our theme park closing for periods of time primarily due to public infrastructure challenges that had negatively
impacted the ability to travel to the park. The estimated impact to Theme Parks segment Adjusted EBITDA was approximately $85 million,
comprised of estimated lost revenue opportunity, offset by the benefit of lower variable costs, from the park&rsquo;s temporary closure.
Similarly, severe weather events in 2019, including a hurricane in Florida, had an estimated impact to Theme Parks segment Adjusted EBITDA
of approximately $30 million, also comprised of estimated lost revenue and lower variable costs from the park&rsquo;s temporary closure.
These events, during the three years ended December 31, 2020, resulted in an aggregate of approximately $3 million of capital expenditures.
For completeness, we note that severe weather events have not had negative impacts on our Sky segment during the three years ended December
31, 2020.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">While availability of insurance
coverage for fire-related events in wildfire-prone geographies has been significantly reduced, we have not experienced meaningful constraints
in insurance coverage for other types of severe weather-related events. For reference, in 2020, 2019 and 2018, we received approximately
$112 million of aggregate insurance reimbursements in respect of prior severe weather events.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Notwithstanding the determinations
outlined above that severe weather events have not had a material adverse effect on the Company&rsquo;s results of operations or financial
condition, the Company has in the past disclosed the impact of severe weather-related events when it has determined such disclosure otherwise
may be useful in evaluating the comparability of operating results. For example, the Company has in the past disclosed:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">On
                                            page 42 of the Company&rsquo;s Form 10-Q for the Quarter Ended September 30, 2018 that: &ldquo;Theme
                                            Parks revenue decreased for the three months ended September 30, 2018 compared to the same
                                            period in 2017 primarily as a result of lower attendance driven by inclement weather conditions
                                            and natural disasters in Japan&rdquo; and &ldquo;Operating costs and expenses increased for
                                            the three and nine months ended September 30, 2018 compared to the same periods in 2017 primarily
                                            due to higher operating costs related to newer rides and attractions, and for Volcano Bay<SUP>TM
                                            </SUP>in Orlando, which was partially offset by the impact of inclement weather conditions
                                            and natural disasters in Japan.&rdquo; In that quarter, Theme Parks segment <FONT STYLE="font-size: 10pt">revenue
and operating costs and expenses were $1.5 billion and $0.8 billion, respectively; the estimated impact to Theme Parks segment Adjusted
EBITDA is addressed above.</FONT></FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD><FONT STYLE="font-size: 10pt">On
                                            page 32 of the Company&rsquo;s Form 10-Q for the Quarter Ended September 30, 2017 that: &ldquo;Adjusted
                                            EBITDA [for our Cable Communications segment] was negatively impacted by two hurricanes that
                                            affected our service areas in the third quarter of 2017.&rdquo; In that period, the impact
                                            to Cable Communications segment Adjusted EBITDA, which had totaled $5.2 billion, was approximately
                                            $37 million, comprised of customer credits for service outages issued and increased operating
                                            costs and expenses.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">To the extent the Company
experiences material impacts to its results of operations or financial condition from severe weather events in the future, we undertake
to disclose such events consistent with the requirements of Item 303 of Regulation S-K and our Disclosure Approach generally.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><I>4.</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>We note from your response to
                                            prior comment 3 that capital expenditures for your climate-related projects have not, to
                                            date, been a material component of your capital expenditures. Please provide us with additional
                                            detail supporting this statement, including quantitative information.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt"><B><U>Response</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Pursuant to Item 303(b)(1)(ii)
of Regulation S-K,<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>viii</SUP></FONT> Form 10-K requires disclosure of the
Company&rsquo;s material cash requirements, including commitments for capital expenditures, and any known material trends. In addition,
Item 101(c)(2)(i)<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>ix</SUP></FONT> requires disclosure of the material effects
that compliance with government regulations may have on, among other things, capital expenditures.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">In addition to the specific
requirements set forth above, consistent with our Disclosure Approach, we consider whether there is a substantial likelihood that a reasonable
investor would consider information concerning capital expenditures for climate-related projects important in deciding how to vote or
make an investment decision, or, put another way, if providing (or not providing) such information would significantly alter the total
mix of information made available.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Capital projects involve
complex business decisions that often are supported by multiple rationales. As reflected in the Prior Response Letter, capital costs
for most projects are driven by a largely commercial rationale but may produce an ancillary climate benefit, such as network virtualization
efforts that expand the capacity of our broadband network or construction of a new building that incorporates sustainable design. Such
capital expenditures are fully integrated into overall project costs. However, in addition to the foregoing, we have had specific climate-related
projects, such as solar panel installations or electric trams, that are separately identifiable and tracked as stand-alone climate-related
projects, beyond the expenditures resulting from severe weather events as noted in our response to Comment 3. For the three years ended
December 31, 2020, our average annual capital expenditures on such separately identifiable climate-related projects were approximately
$5 million. In the context of our capital expenditures of $9.2 billion, $10.0 billion and $9.8 billion for 2020, 2019 and 2018, respectively,
these amounts were not material to the Company, representing less than 0.1% of each year&rsquo;s total capital expenditures.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">To the extent the Company
has material capital expenditure plans in the future that are not otherwise integrated into the overall project costs and are directly
attributable to climate-related projects similar to those outlined above, we undertake to disclose such expenditures consistent with
the requirements of Item 303 of Regulation S-K and our Disclosure Approach generally.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><I>5.</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Your response to prior comment
                                            4 appears to focus on your transition to carbon neutrality by 2035 and concludes that you
                                            do not anticipate costs connected to this goal to be material to your results of operations
                                            or financial condition. Please tell us more about how you considered providing disclosure
                                            quantifying the estimated costs of achieving your carbon neutral goal and explain how you
                                            analyzed the materiality of these costs. Lastly, please tell us about transition risks related
                                            to climate change separate from those arising from your carbon neutral goal and explain how
                                            you considered providing disclosure regarding their possible effects.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B><U>Response</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">As noted in the Prior Response
Letter, based on our analysis to date, while our transition to carbon neutrality will by necessity result in the incurrence of additional
costs such as the incremental cost of green energy, applying our Disclosure Approach, we have concluded that we do not anticipate that
these costs would be material to our results of operations or financial condition.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">With respect to the quantification
of the estimated costs of achieving our carbon neutral goal, we first assessed, among other things, the extent of and components comprising
our carbon footprint for both Scope 1 and Scope 2 greenhouse gas emissions. For reference, in 2020, electricity for our businesses represented
approximately 75% of our Scope 1 and 2 emissions. We then applied an estimate based on current and projected premium costs for green
energy, coupled with purchasing carbon offsets, to estimate the incremental costs to transition over the next fourteen years to renewable
electricity and meet our carbon neutral goal. Based on that estimate, we would expect to incur between $40 million to $75 million of
incremental costs per year in order to reach our goal. For reference, our total electricity costs represented less than 1% of our total
costs and expenses of $86.1 billion in 2020, and the high-end estimate of an incremental $75 million of annual costs represents less
than 0.1% of such total costs and expenses.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Beyond electricity costs,
our vehicle fleet represents approximately 16% of our 2020 Scope 1 and 2 emissions. In addition to our response to Comment 1 above with
respect to new electric vehicle mandates that will become effective in the next 9 to 14 years, we continue to evaluate plans as to what
proportion and how quickly to transition our vehicle fleet that uses traditional fuel to electric. While we would expect our annual replacement
costs to incrementally increase over time as we near 2030 to 2035 and purchase more electric vehicles, we have not, as of the present
time, made any decisions and do not have any specific capital expenditure plans with respect thereto beyond our normal course processes
to replace portions of our owned fleet annually as vehicles reach a certain age. For reference, most of our owned vehicles are in the
Cable Communications segment, which typically maintains an average vehicle fleet age of approximately 8 years. Similarly, we will continue
to evaluate plans to transition our leased vehicle fleet over time to electric once viable options for the types of vehicles we use become
more broadly available.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">In response to the Staff&rsquo;s
request to explain how we considered providing disclosure regarding transition risks related to climate change, we note that climate
change transition risk drivers have been described by the Basel Committee on Banking Supervision as &ldquo;the societal changes arising
from a transition to a low-carbon economy &hellip;. [that] can arise through: changes in public sector policies; innovation and changes
in the affordability of existing technologies (eg that make renewable energies cheaper or allow for the removal of atmospheric GHG emissions);
or investor and consumer sentiment towards a greener environment.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>x</SUP></FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">As noted above, we apply
our Disclosure Approach when considering if we are required to include information in our Form 10-K relating to any material risk,
trend or uncertainty, including any risk, trend or uncertainty related to climate change. In this respect, we refer you to our
responses to <FONT STYLE="font-size: 10pt">Comment 1 (regarding climate-related
laws and regulations), Comment 2 (regarding indirect consequences of climate-related regulation or business trends) and Comment 4 (regarding
capital expenditures for climate-related projects). By necessity, our consideration of each of these topics involved consideration of
associated &ldquo;transition risks.&rdquo; In the course of such consideration, we did not identify information concerning the impact,
actual or reasonably foreseeable, of climate change-related transition risk on the Company, our business, results of operations or financial
condition that we believe results in a substantial likelihood that a reasonable investor would consider important in deciding how to
vote or make an investment decision, or, put another way, would significantly alter the total mix of information made available.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><I>6.</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Your response to prior comment
                                            5 states that while annual compliance costs related to climate change have increased, the
                                            increases have not been material to the company. Please tell us about the nature of the compliance
                                            costs incurred, quantify the increased amounts and explain how you analyzed the materiality
                                            of these increases.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt"><B><U>Response</U></B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">Please refer to our response
to Comment 1 above. In addition, we have incurred incremental costs, primarily including outside consultants and additional internal
headcount, as well as increased time allocations of various personnel whose primary responsibilities fall outside of dedicated environmental
sustainability matters, such as legal, accounting and finance personnel, in preparation for greenhouse gas emission and other similar
reporting mandates. These costs, not including increased time allocations of personnel outside of dedicated sustainability matters, have
increased over the past 12 to 18 months to approximately $5 million on an annualized basis, representing less than 0.02% of our other
operating and administrative costs and expenses in 2020. Based on these considerations, the incremental cost with respect thereto is
not significant relative to the Company&rsquo;s financial condition and results of operations.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">* * *</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">In connection with our response to the
Staff&rsquo;s comments, we acknowledge that the Company and our management are responsible for the accuracy and adequacy of our disclosures,
notwithstanding any review, comments, action or absence of action by the Staff.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Please do not hesitate to call me at
(215) 286-5456 with any questions you may have with respect to the foregoing.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Very truly yours,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">COMCAST CORPORATION</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 61%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-size: 10pt"><U>/s/ Elizabeth Wideman</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Elizabeth Wideman</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Senior Vice President, Senior Deputy General Counsel and Assistant Secretary</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>




<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><FONT STYLE="font-size: 10pt">cc:</FONT></TD>
    <TD STYLE="width: 95%"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Brian L. Roberts, Chairman of the
    Board and Chief Executive Officer</FONT></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Michael J. Cavanagh, Chief Financial
    Officer&nbsp;</FONT></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Thomas J. Reid, Chief Legal Officer
    and Secretary</FONT></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Daniel C. Murdock, Executive Vice
    President and Chief Accounting Officer</FONT></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD></TR>
  </TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 15%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>i
</SUP></FONT><FONT STYLE="font-size: 10pt">17 CFR 240.12b-20.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>ii
</SUP></FONT><FONT STYLE="font-size: 10pt">Release Nos. 33-9016; 34-61469; FR-82 (Feb. 2, 2010), available at https://www.sec.gov/rules/interp/2010/33-9106.pdf
(the &ldquo;Climate Guidance&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>iii
</SUP></FONT><FONT STYLE="font-size: 10pt"><U>Basic Inc. v. Levinson</U>, 485 U.S. 224 (1988) and <U>TSC Industries, Inc. v. Northway,
Inc.</U>, 426 U.S. 438 (1976).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>iv
</SUP></FONT><FONT STYLE="font-size: 10pt">&ldquo;Modernization of Regulation S-K Items 101, 103, and 105,&rdquo; Release Nos. 33-10825;
3 4-89670; File No. S7-11-19 (Aug. 26, 2020), available at https://www.sec.gov/rules/final/2020/33-10825.pdf.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>v
</SUP></FONT><FONT STYLE="font-size: 10pt">&ldquo;Management&rsquo;s Discussion and Analysis, Selected Financial Data, and Supplementary
Financial Information,&rdquo; Release Nos. 33-10890; 34-90459; IC-34100; File No. S7-01-20 (Nov. 19, 2020), available at https://www.sec.gov/rules/final/2020/33-10890.pdf.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>vi
</SUP></FONT><FONT STYLE="font-size: 10pt">Climate Guidance, n. ii <U>supra</U> at 26.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>vii
</SUP></FONT><FONT STYLE="font-size: 10pt">Climate Guidance, n. ii <U>supra</U> at 26.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>viii
</SUP></FONT><FONT STYLE="font-size: 10pt">17 CFR 299.303(b)(1)(ii).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>ix
</SUP></FONT><FONT STYLE="font-size: 10pt">17 CFR 299.101(c)(2)(i).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>x
</SUP></FONT><FONT STYLE="font-size: 10pt">Basel Committee on Banking Supervision, &ldquo;Climate-related risk drivers and their transmission
channels,&rdquo; Bank for International Settlements, at 7 (April 2021), available at https://www.bis.org/bcbs/publ/d517.pdf.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
