The separation would not include the broadcast network NBC or streaming platform Peacock.During the company's third-quarter earnings call with investors, Cavanagh said the company is exploring creating"a new, well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks."
The possible separation would not include broadcast network NBC nor streaming service Peacock, he added. NBCUniversal's cable networks portfolio includes Bravo, E!, Syfy, Oxygen True Crime, USA Network, as well as news networks MSNBC and CNBC. "Like many of our peers in media, we are experiencing the effects of the transition in our video businesses and have been studying the best path forward for these assets," Cavanagh said, according to preliminary transcript of the call from FactSet.
"We are not ready to talk about any specifics yet, but we'll be back to you as and when we reach firm conclusions," he said. Billionaire CEO shares the No. 1 red flag he sees in employees: It has ‘a huge correlation to success'The comments come as millions of customers continue to flee the traditional pay TV bundle in favor of streaming. Comcast has been beefing up Peacock, which got a boost during the third quarter when it exclusively aired the Summer Olympics in Paris.Feeling out of the loop? We'll catch you up on the Chicago news you need to know.