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Comcast Execs Talk Cable SpinCo & New NBCUniversal As Wall Street Presses For Details
Comcast executives touted upcoming split to Wall Street as cable networks prepare to separate from the rest of NBCUniversal.
Comcast NBCUniversal building at Universal StudiosGetty Images Comcast executives spent much of a post- earnings conference call on the biggest news of the last few months, an upcoming cable spinoff with President Mike Cavanagh calling a new company comprised of most NBCUniversal cable networks as “a free-standing, strong collection of businesses with lots of cash flow generation capability for many years to come, good market position and great focus.” “When they’re ready to talk about their strategy, which will be at some point down the road, we’ll come back,” Cavanagh told analysts who pressed for details. “We’re seeing some stabilization after a slowdown in the second and third quarters,” said CFO Jason Armstrong, adjusted for the pre-opening costs of around $35 million for Epic Universe in Orlando.
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