Comcast Considers Spinning Out Cable Networks As New Company

Comcast is considering creating a separate company for its cable network assets, excluding NBC and Peacock, as announced during its third quarter earnings call.

The cable network portfolio includes Syfy, Oxygen, True Crime, Bravo, Universal Kids, E!, USA Network, CNBC, MSNBC and Universo, a Spanish-language channel.

The move aims to better position these networks in the evolving media landscape, potentially benefiting shareholders who would "own" it, said Comcast president Mike Cavanagh per Investopedia.

Comcast, facing challenges due to cord-cutting, reported a net loss of 365,000 cable customers compared to last year.

Despite these challenges, Comcast's quarterly revenue rose by 6.5 percent to $32.07 billion, supported by its coverage of the Paris Summer Olympics.

Comcast is also exploring partnerships in streaming said Cavanagh but he failed to mention any potential deals.

While its stock rose slightly on Thursday, it remained down by two percent for the year with earnings per share falling below expectations.

Historically, Comcast has had success with creating new companies with their current assets. The company did this before when it relaunched its television and internet services as Xfinity.