Comcast Explores Spin-Out of Cable Business

Published On Oct 31, 2024, 10:39 AM

Comcast is contemplating a separation of its cable networks, such as Syfy and Bravo, from the rest of the company amid declining traditional cable subscriptions. The president, Mike Cavanagh, mentioned that the new entity would be owned by Comcast shareholders and potentially well capitalized, unlike some corporate spinoffs that are often burdened with debt. Despite a decrease in net income of 3.3%, Comcast's revenue rose by 6.5%, and their share price saw a near 3% increase after the announcement.