Comcast looks to start new venture to house cable channels

Comcast is considering creating a new company to house its cable channels, including MSNBC, USA Network, CNBC, and Bravo, to revive its business amid declining cable TV viewership.

The new venture could allow Comcast to acquire other networks from rivals looking to exit the cable business.

The company is also looking for partnerships in streaming, particularly to support the growth of its Peacock service. It gained 3 million subscribers in the quarter and has 36 million subscribers.

Bravo, popular for reality shows like the Real Housewives franchise, will probably stay with Peacock.

Comcast’s Q3 revenue rose 6.5% to $32.1 billion, beating analyst expectations of $31.8 billion.

However, net income dropped 10.3% to $3.6 billion due to increased production and programming costs.

The company’s cable channels have been affected by long-term shifts in media. While these channels still bring in profit through cable contracts, they face growing competition from streaming.