Comcast, amid the upheaval within the TV biz brought on by cord-cutting, is contemplating spinning off NBCUniversal‘s portfolio of cable networks into a brand new publicly traded firm.
Comcast president Mike Cavanagh introduced the exploratory plans on the conglomerate’s Q3 earnings name. NBCU’s cable networks embody Oxygen, Bravo, MSNBC, CNBC, USA, E!, Syfy, Common Youngsters and Spanish-language channel Universo.
“As you realize, we selected to not take part within the M&A course of round Paramount within the earlier a part of this yr, however we might think about partnerships in streaming regardless of their complexities, and like lots of our friends in media, we’re experiencing the results of the transition in our video companies, and have been learning the very best path ahead for these belongings,” he stated.
Cavanagh continued, “To that finish, we are actually exploring whether or not creating a brand new well-capitalized firm owned by our shareholders and comprised of our sturdy portfolio of cable networks would place them to make the most of alternatives within the altering media panorama and create worth for our shareholders. We aren’t prepared to speak about any specifics but, however we’ll be again to you as and after we attain agency conclusions.”
