Equity and assets, specifically relating to Comcast

Factual Questions
1

If you look in the right column here: Comcast - Wikipedia

In 2013, you’ll see that the revenue is 65 billions, net income is 6.8 billions. More than 10% of its revenue is net income which isn’t bad at all for most industries.

The equity is 51 billions. That means a price/earnings ratio of 7.5 which is lower than average but still ok.

What I am wondering about is the value of the assets at 159 billions in 2013.
As far as I know, there isn’t a run on Comcast, all figures are going up. So, how can its equity be 1/3 of its assets? There must be something I’m not getting.

Is it usual for media and telecoms companies to have total equity that is a fraction of its assets? Is this specific to Comcast?

With a P/E of 7.5 and equity at 1/3 of its assets, you’d think Comcast would be ripe for a takeover where the buyer would either suckle on that sweet easy profit or asset strip the company.

So, what gives?

2

Presumably, they have liabilities/debt of 108 billion dollars:

Equity = Assets + Liabilities
51 = 159 + (-108)

3

Indeed, I was looking at it in too-partial terms and didn’t think of the obvious. Thanks.