Comcast777rainbow, one of the nation’s biggest television companies, said on Thursday that it was weighing whether to cleave its cable networks from the rest of the company, a move that could put it in position to shake up the struggling cable industry.
Mike Cavanagh, the company’s president, said on an earnings call that the company could put the cable networks owned by its NBCUniversal division — which include Syfy, Bravo and USA — into a new company.
As Americans continue to drop their cable TV subscriptions, cable networks are generally considered the most problematic part of traditional media businesses like NBCUniversal.
“Like many of our peers in media, we are experiencing the effects of the transition in our video businesses, and we have been studying the best path forward for these assets,” Mr. Cavanagh said.
Mr. Cavanagh said the new company would be owned by Comcast shareholders and “well capitalized,” implying that it would not be loaded up with debt from its parent company, a common tactic for corporate spinoffs. NBC — a broadcast network owned by Comcast — would probably not fit into the new company.
He spoke after Comcast reported a 3.3 percent decrease in net income last quarter, even as revenue increased 6.5 percent, to $32 billion. The company reported losses of 87,000 U.S. customers for its broadband services compared with the same period last year, and cable TV subscribers continued to decrease. The company’s share price was up nearly 3 percent in midmorning trading.
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