Are you ready to delve into the latest business news surrounding Comcast? Well, you’re in luck because Extreme Investor Network has the inside scoop on Comcast’s potential separation of its cable networks business! During the third-quarter earnings call with investors, President Mike Cavanagh revealed that Comcast is considering creating a new, separate company comprised of its cable networks.
But hold on, this separation won’t include popular networks like NBC or Peacock. Instead, it will focus on assets like Bravo, E!, Syfy, and more. With the rise of streaming services, Comcast has been beefing up Peacock, which saw a significant boost during its exclusive coverage of the Summer Olympics in Paris, gaining 3 million more subscribers in the third quarter.
Despite the trend of cord-cutting, traditional TV networks are still lucrative for media companies. In fact, Comcast’s media segment revenue soared by nearly 37% in the third quarter, largely due to the Olympics. However, the separation process is still in the early stages, with many questions left unanswered.
Analysts welcomed the idea of separating the cable networks, as it could potentially boost growth in Comcast’s ISP business. The role of sports in this separation is also being closely watched, as NBCUniversal has secured major sports rights deals in recent years.
What’s next for Comcast and its cable networks? Stay tuned as Extreme Investor Network keeps you updated on this developing story. Don’t miss out on our exclusive insights into the world of business news. Subscribe to Extreme Investor Network now!