Comcast Vows to Go Boldly Into Web TV

NEW YORK, (TheStreet) -- Internet video won't kill cable giant Comcast (CMCSA) -- it will make it stronger, according chief Brian Roberts.

Comcast says it is pushing forward with its TV Everywhere plan in response to Google's (GOOG) YouTube, News Corp. (NWS) and GE's (GE) Hulu, Netflix(NFLX), and a potential $30-a-month video plan from Apple (AAPL).

The move by Comcast would allow its cable customers to view pay-TV programs and video on the Internet via PCs and other broadband-connected devices. It would also put a heavy load on Comcast's network, requiring even more investment for a questionable return.

"Video over the Internet is more friend than foe," Roberts told analysts on an earnings call Wednesday. Roberts explained that Comcast has been boosting network speeds and capacity "to allow people to do more on the Internet."

He said it is always difficult to predict how people use the Internet, but that it was Comcast's job to "give the customer the best experience."

Comcast's strong talk of being nothing more than delivery service would seem troubling if the company wasn't exploring a separation and combination of its media holdings with GE's NBC Universal video properties.

Addressing media reports about a potential blockbuster content deal with NBC U, Roberts told analysts on the call that any deal would have to "accelerate growth" and "differentiate" products. Roberts added that the company was taking a "disciplined approach" with the goal of creating "value" for shareholders.

Comcast is under pressure as it continues to lose video customers to phone companies like Verizon (VZ) and AT&T (T), which are pedaling their own TV services. Added to that mix are the competitive offerings from satellite TV shops EchoStar (DISH) and DirecTV (DTV).