Is it too late to buy Comcast (CMCSA), 50% lower than it was two years ago, even as it is allowed to buy other cable companies and is generating more cash flow than ever?

Comcast has been entering new territory in the last few years, and with newfound FCC scrutiny in the industry, investors should be taking notice as well.

"Next year, it looks like Cablevision will have $2.50 to $3 in free cash at the cable business," says Mark Boyar of Mark Boyar & Co., a New York investment manager. "I think Charles Dolan is setting himself up to sell the business when financing is available." The 82-year-old Dolan is the powerful founder and chairman of Cablevision. The Dolan family tried to take Cablevision private in 2007 at $36 a share, but shareholder opposition killed that plan. Boyar says Cablevision shareholders ultimately should get $36 or more for the entire company.

It's no wonder, given the prevailing sentiment, that media stocks collectively trade for less than half their 2007 peak, and that best-in-class outfits, such as Omnicom (OMC), Walt Disney (DIS), News Corp. (NWSA), the parent of Barron's publisher Dow Jones, and Comcast (CMCSA) are as cheap, based on earnings and cash flow, as they have been in two decades. Still, it is courageous to argue that traditional media largely control their destiny, that consumer eyeballs still have value and that businesses will continue spending money to reach those eyeballs, even if they spend in different, more targeted ways in the digital era.

Distributed by MGM: How to Lose Friends & Alienate People

From a recent Mad Money show:"I think they're doing a good job, but I don't think the market will get on board. There is no great reason to own Comcast."

Pete Najarian is seeing unusual options action in Comcast (CMCSA). The volume in the Comcast Feb. $17.50 calls suggests to Najarian that this stock could soon go higher.

Cramer: Analysts Got Comcast Wrong: When a company says it's 'liquid,' you have to wonder, says Jim Cramer.

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From a recent Mad Money show: "I think Comcast has bottomed and cable is starting to come back up. I think under $20 this one is a buy!"

Jolie

My biggest Loser

comcast is the devil

I hate paying for cable TV

Over priced

needs revision

Over priced under delever

rip-off too much competition and their price recently reflects all of that

Poor customer support and lots a of people hate them

Spinoff from AT&T

Founder gets richer by the minute.