Comcast is considering a fundamental restructuring of its business, exploring the creation of a separate company for its cable TV networks and potentially seeking partnerships in streaming. This shift comes as it struggles with the ongoing decline of cable TV subscribers while chasing profitability in the increasingly competitive streaming landscape.
Comcast is contemplating spinning off its cable TV networks – including MSNBC, CNBC, Bravo, USA and Syfy – into a standalone company owned by Comcast shareholders. This move would separate the cable networks from other NBCUniversal assets like the NBC broadcast network, Universal studio, and theme parks.
“We’ve got a very strong hand,” said Comcast President Mike Cavanagh during an earnings call. “There may be some smart things to do and we want to study that.”
In addition to the cable net spinoff, Comcast is also open to exploring partnerships in streaming to bolster its Peacock service. The company acknowledges the challenges of achieving profitability in the streaming market and is considering collaborations to enhance its offerings and expand its reach. There have already been reports of a possible Paramount+ and Peacock partnership.
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