3 sources·Business

Comcast Explores Separation of Cable Networks Amid Streaming Surge

Comcast is considering spinning off its cable networks to focus on growing its streaming service Peacock, as traditional TV viewership declines.

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Updated: Oct 31st, 2024, 5:11 PM ET

Summary

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During a recent earnings call, Comcast President Mike Cavanagh announced the company's exploration of a potential separation of its cable networks into a new, publicly traded entity, excluding NBC and streaming service Peacock. This decision comes as millions of customers are shifting from traditional pay TV to streaming services. The company reported a rise in media revenue due to Olympic advertising, despite losing 365,000 cable TV subscribers in the third quarter. Analysts view the potential separation positively, believing it may benefit both the broadband and cable networks.

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