Comcast Pays $490 Million to Settle Ralph Roberts Life Insurance
Comcast Corp. paid $490 million this year to deceased founder Ralph Roberts and his wife Suzanne to settle life insurance policies. The cable company compensated $326 million to his widow and $164 million to trusts but expects to recoup two-thirds of the payment. These payments are related to life insurance policies organized under a split-dollar arrangement.
Private Companies attorney Joshua Husbands said, "It's very generous to also gross up a person's total compensation to cover the tax liability. There's nothing improper about it, but that's not a typical arrangement."
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