By Gautham Nagesh - 12/17/10 04:33 PM EST
"In recognition of the lack of early stage capital available for minority media and tech entrepreneurs, we are establishing a $20 million investment fund," Comcast said in a statement.
"There are also commitments to expand opportunities for minority providers of banking, legal and other professional services. Truly, as anyone who reviews the AAMOU will understand, these commitments are unprecedented."
Comcast has also created a Joint Diversity Council that gives minorities a permanent seat at the table with Comcast leadership.
"These measures are intended to ensure accountability to the commitments memorialized in the MOU," the groups state. "We hope that this MOU will serve as a model for other companies to foster greater diversity within their corporate structure and we commend Comcast and NBCU for their willingness to make diversity a central tenet of their future success."
The FCC is expected to conclude its review of the merger in the next few weeks, with most observers expecting the merger to be approved with minimal conditions. Some lawmakers have asked the FCC to require Comcast to comply with net neutrality principles to ensure the firm can't block competing online video distributors, but the need for such a rule could be significantly reduced if the FCC passes Genachowski's net-neutrality plan at Tuesday's open meeting, as expected.