Comcast's cable network spinoff may be a signal to the media industry for necessary change [CNBC]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: CNBC
Comcast may be proceeding with a transaction as a signal to the rest of the media industry that consolidation is necessary. Comcast shares posted modest gains Wednesday. Comcast shares posted modest gains Wednesday after the company announced its plan to spin off all of NBCUniversal's cable networks — except Bravo — into a separately publicly traded entity. Investors' initial shrug at the proposed transaction underscores the uncertainty of the maneuver. The hope for Comcast is that by shedding declining assets, the company's shares will rise. Cable networks are still profitable, but they're hemorrhaging subscribers and revenue every year as Americans cancel traditional pay TV for streaming services. That may be an anchor on Comcast's shares. Wall Street typically doesn't like assets with slumping revenue and profit. Still, there's plenty of uncertainty around the spinoff. It's unclear if Comcast investors will care that much. The NBCUniversal cable networks are relatively s
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