Comcast is considering separating its cable networks business in order to create a new entity focused on its cable networks portfolio. This move would exclude NBC and the streaming service Peacock.
The decision comes as Comcast reported a loss of 365,000 cable TV customers in the third quarter, reflecting the industry-wide shift towards streaming services. President Mike Cavanagh acknowledged the challenges faced by the video business and stated that the company is exploring the best way forward for its cable assets.
Following the announcement, Comcast's shares rose over 6% in premarket trading.