Cable television giant Comcast Corp. plans to reclassify its publicly traded stock to simplify its equity structure and end confusion among investors.
Comcast long has had two classes of publicly traded stock. The Philadelphia company said Monday that it would like to eliminate Comcast's non-voting K shares. If the move is approved by shareholders, investors who hold K shares (which trade on the Nasdaq under CMCSK) would receive Class A shares (CMCSA).
For each K share owned, shareholders would receive one A share.
Shareholders as of Oct. 20 are eligible to vote in the election, which is expected to be held before the end of...