Comcast is exploring separation of cable networks business

Comcast is exploring separation of cable networks business


Comcast considers spinning out cable networks as separate company

Comcast is exploring a separation of its cable networks business, President Mike Cavanagh said Thursday.

During the company’s third-quarter earnings call with investors, Cavanagh said the company is exploring creating “a new, well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks.”

The possible separation would not include broadcast network NBC nor streaming service Peacock, he added. NBCUniversal’s cable networks portfolio includes Bravo, E!, Syfy, Oxygen True Crime, USA Network, as well as news networks MSNBC and CNBC.

The company lost 365,000 cable TV customers during the third 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 said.

“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 said.

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

The comments come as millions of customers continue to flee the traditional pay TV bundle in favor of streaming. Comcast has been beefing up Peacock, which got a boost during the third quarter when it exclusively aired the Summer Olympics in Paris.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.

This is breaking news. Please refresh for updates.



Source

Cereal maker WK Kellogg shares jump 50% on report of possible  billion deal with Ferrero
Business

Cereal maker WK Kellogg shares jump 50% on report of possible $3 billion deal with Ferrero

Boxes of various Kellogg’s cereals are displayed on shelves at a Walmart Supercenter on May 6, 2025 in Austin, Texas. Brandon Bell | Getty Images Shares of WK Kellogg soared more than 50% on Wednesday following a report that chocolate maker Ferrero is close to a roughly $3 billion deal to buy the cereal company. […]

Read More
Eli Manning says he’s no longer interested in buying a piece of the NFL’s Giants: ‘It’s too expensive for me’
Business

Eli Manning says he’s no longer interested in buying a piece of the NFL’s Giants: ‘It’s too expensive for me’

Former New York Giants quarterback Eli Manning is no longer interested in buying a minority stake in his old team, telling CNBC Sport Wednesday that he’s been priced out. “Basically, it’s too expensive for me,” Manning told CNBC Sport in an interview. “A 1% stake valued at $10 billion turns into a very big number.” […]

Read More
TSA plans to let travelers keep their shoes on at airport security checkpoints
Business

TSA plans to let travelers keep their shoes on at airport security checkpoints

Traveler wait in a long security line at John Wayne Airport in Santa Ana Wednesday, May 7, 2025. Allen J. Schaben | Los Angeles Times | Getty Images The Transportation Security Administration plans to let many travelers leave their shoes on at U.S. airport checkpoints, ending a roughly 20-year-old rule, according to people familiar with […]

Read More