Comcast considers spinning off cable networks into separate company amid linear TV decline.
Comcast is contemplating a spinoff of its cable network portfolio, which includes channels like MSNBC, Bravo, and Syfy, into a separate company. This decision reflects the ongoing decline in the linear TV market and will not affect its broadcast operations. Following the announcement, Comcast's shares increased by 7% in pre-market trading. President Mike Cavanagh indicated they are evaluating the best strategy for these assets.
October 31, 2024
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