But the reason to be bullish is Comcast is aggressive about growth. It's going after Time Warner Cable (TWC) and it made a decent-sized bet on the NHL that right now seems to be paying off. When the technology and communication revolutions calm down, Comcast will still be here, making money.
It owns several valuable properties including basketball's New York Knicks and the New York Rangers, as well as Madison Square Garden, where the Rangers will be playing the Kings in the finals.
Yes, It has other media interests and owns other teams in othersports leagues. But the Knicks, Rangers and the Garden are the core assets. Interestingly, the company's market cap is about $4.4 billion, which seems a bit low considering the new $2 billion sale price of the Los Angeles Clippers.
The stock, at $56, down 2.7% for the year to date, is a few dollars off its highs. But with the Rangers' playoff run the company expects record revenue.
Now might be a good time for the stock, regardless of how you feel about its polarizing chairman, James Dolan, and how he gave all those millions to Isiah Thomas to run the NBA Knicks into the ground several years back.
Let's finish with a name trading in Canada, the birthplace of the game. Instead of looking for analogous names -- like Rogers Communications (RCI), which owns Canadian TV rights, let's take a look at a hockey-focused equipment maker: Bauer. It's more of a pure play than Nike when it comes to hockey equipment and its story is not as well known.
The company went public in Canada on the Toronto exchange less than four years ago and has been aggressive. Bauer now has more than half of the global hockey equipment business and has even made steps to diversify as it continues to increase hockey market share.
Just this spring, it purchased Easton-Bell Sports' baseball/softball business. In the sports world, Easton is a great brand and will definitely bring substantial revenue into the company.
It's a growth name that does carry debt and isn't profitable right now. However, if you think hockey is growing, then Bauer is a strong way to play it.
At the time of publication the author had a position in CMCSA.
This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.