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Comcast to reclassify special common stock

Comcast's board has approved a proposal that would reclassify its shares so that only its Class A common shares remain.

The proposal would reclassify all Class A special common stock into Class A common stock, subject to shareholder approval.

Comcast said Monday that its board determined the reclassification was in the best interests of the company and its shareholders and would eliminate confusion caused by having two classes of publicly traded stock. The company said the move would also improve the trading liquidity of its publicly traded stock.

Philadelphia-based Comcast plans to hold a special meeting of its shareholders to vote on the reclassification.

(Disclosure: Comcast is parent of NBCUniversal and CNBC.)