Comcast dropped bombshell after revealing better than expected third quarter sales.
With the cable audience shrinking in favor of streaming TV, Kavanagh did not say what implication the consolidation might have on jobs but said the intention would be to better position the networks in the “media landscape.”He said the “study” would allow the nation’s biggest cable provider to “play some offense.
“To that end, we are now exploring whether creating a new, well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks would position them to take advantage of opportunities in the media landscape and create value for our shareholders. “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 added., there were only three cable networks in 2023 with an average audience above one million viewers, down from five the previous year and down from 19 in 2013.Comcast sales climbed 6.5% to $32.1 billion in the third quarter, beating predictions of $31.7 billion. Other promising metrics included fewer than expected losses of cable and streaming customers.
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