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Comcast Looking At Forming A New Stand-Alone Company For Its Cable Networks, President Mike Cavanagh Says
On its third-quarter earnings call with Wall Street analysts, Comcast said it is exploring creating a new stand-alone entity to house its cable networks.
Comcast/NBCUniversal corporate offices in Universal CityAaronP/Bauer-Griffin/GC Image Comcast President Mike Cavanagh delivered an eye-opening update to investors on this morning’s third-quarter earnings call, saying the company is exploring creating a new stand-alone entity to house its cable networks. Cord-cutting is shrinking the pay-TV bundle by millions of subscribers each quarter and it is hard to know where the floor will ultimately be, though live sports has provided some ballast. Cavanagh added that Comcast “chose not to participate in the M&A process around Paramount in the earlier part of this year, but we would consider partnerships in streaming despite their complexities.”
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