From CNBC: 2024-10-31 13:23:03

Comcast is considering separating its cable networks business, excluding NBC and Peacock. Revenue for the media segment was up nearly 37% in the third quarter, mainly due to the Olympics. The company lost 365,000 cable TV customers during the same period, reflecting industry-wide trends of subscriber losses.

Analysts welcome the idea of a separation, with MoffettNathanson calling it a “very welcome development.” The role of sports in a potential separation remains unclear, especially regarding sports rights contracts. Comcast is also considering streaming partnerships, but the details are still being worked out.

NBCUniversal has invested in sports rights, including the NFL and NBA. Separating cable networks from NBC could impact the distribution of these sports events. The company recently signed a major deal with the NBA, highlighting the importance of sports content in its portfolio. The future of sports rights in a potential separation remains uncertain. Comcast’s cable networks portfolio may struggle without marquee sports, potentially leading to bankruptcy for NBCUniversal’s cable networks. With the possibility of distributors dropping them, concerns are raised about the future of the network. Comcast is considering separating its cable networks business. NBCUniversal, NBC Sports, and NBC Olympics are all under Comcast’s ownership.



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