Comcast Considers Spinning Off Cable Networks After Strong Q3 Earnings Boosted by Olympic Ads

Reported 8 months ago

Comcast is exploring the possibility of spinning off its cable networks, like CNBC and MSNBC, due to a decline in traditional TV viewership as consumers shift to streaming. This potential spin-off excludes NBC and Peacock, the streaming service for which Comcast is seeking growth partnerships. The move follows a successful third quarter bolstered by high ad revenue from the Paris Olympics and blockbuster film releases, with total revenue reaching $32.07 billion, beating expectations. Despite some declines in broadband and video subscribers, the overall results were encouraging.

Source: YAHOO

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