Comcast is exploring a separation of its cablegram networks business, President Mike Cavanagh said Thursday.
During the company's third-quarter net telephone with investors, Cavanagh said the institution is exploring creating "a new, well-capitalized institution owned by our shareholders and comprised of our beardown portfolio of cablegram networks."
The imaginable separation would not see broadcast web NBC nor streaming work Peacock, helium added. NBCUniversal's cablegram networks portfolio includes Bravo, E!, Syfy, Oxygen True Crime, USA Network, arsenic good arsenic quality networks MSNBC and CNBC.
The institution mislaid 365,000 cablegram TV customers during the 3rd quarter.
"Like galore of our peers successful media, we are experiencing the effects of the modulation successful our video businesses and person been studying the champion way guardant for these assets," Cavanagh said.
"We are not acceptable to speech astir immoderate specifics yet, but we'll beryllium backmost to you arsenic and erstwhile we scope steadfast conclusions," helium said.
Shares of Comcast were up much than 6% successful premarket trading.
The comments travel arsenic millions of customers proceed to fly the accepted wage TV bundle successful favour of streaming. Comcast has been beefing up Peacock, which got a boost during the 3rd 4th erstwhile it exclusively aired the Summer Olympics successful Paris.
Disclosure: Comcast owns NBCUniversal, the genitor institution of CNBC.
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