During a tumultuous time for the television business, NBCUniversal owner Comcast says it may pursue some major deals to adapt to the changing environment.
For starters, Comcast President Mike Cavanagh said the company is evaluating a spinoff of its cable networks, which include USA Network, Bravo, MSNBC, CNBC and Syfy.
“Like many of our peers in the media industry, we are experiencing the effects of the transition in our video businesses and are exploring the best path forward for these assets. We are now evaluating whether to create a new, well-capitalized company, owned by our shareholders and comprised of our strong portfolio of cable networks, which would position them to capitalize on opportunities in the evolving media landscape and create value for our shareholders,” he said Cavanagh. “We are not ready to talk about specific details yet, but we will respond if and when we reach definitive conclusions.”
And he added that the company is interested in seeking a partner for its Peacock streaming service in a bid to grow the business.
“As you know, we chose not to participate in the M&A process around Paramount in the early part of this year, but we will consider streaming partnerships despite their complexities,” he said.
More to come.