Comcast is discovering splitting up of cable television networks company

Comcast is discovering a splitting up of its cable television networks company, President Mike Cavanagh claimedThursday

During the firm’s third-quarter revenues phone call with capitalists, Cavanagh claimed the firm is discovering developing “a new, well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks.”

The feasible splitting up would certainly not consist of program network NBC neither streaming solution Peacock, he included. NBCUniversal’s cable television networks profile consists of Bravo, E!, Syfy, Oxygen True Crime, United States Network, along with information networks MSNBC and.

The firm shed 365,000 cable television consumers throughout the 3rd quarter.

“Like many of our peers in media, we are experiencing the effects of the transition in our video businesses and have been studying the best path forward for these assets,” Cavanagh claimed.

“We are not ready to talk about any specifics yet, but we’ll be back to you as and when we reach firm conclusions,” he claimed.

Shares of Comcast were up greater than 6% in premarket trading.

The remarks come as countless consumers remain to take off the typical pay television package for streaming. Comcast has actually been increasing Peacock, which obtained an increase throughout the 3rd quarter when it specifically broadcast the Summer Olympics in Paris.

Disclosure: Comcast has NBCUniversal, the moms and dad firm of.

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