Comcast's cable network spinoff may be a signal to the media industry for necessary change [MSNBC.com]
Warner Bros. Discovery, Inc. - Series A (WBD)
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Source: MSNBC.com
In this articleNikolas Kokovlis | Nurphoto | Getty ImagesComcastplan to spin off all of NBCUniversal's cable networksInvestors' 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 small assets, generating about $7 billion in revenue over the 12 months ended Sept. 30, according to a Comcast news release. For comparison, the rest of Comcast took in about $116 billion in revenue.It's also unclear if the spun-off company will flourish as
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