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Comcast spins off its cable channels into separate company as it looks for growth

Cable television has long been viewed as a stagnant business, showing little promise for growth over the years. However, Comcast believes it has found a Comcast is spinning off NBCUniversal’s cable television networks into a separate publicly traded company.

However, Comcast says that the new independent company– which it calls SpinCo– will have “significant scale” and is well-positioned for success due to its portfolio of leading news, sports, and entertainment content. “This transaction positions both SpinCo and NBCUniversal to play offense in a changing media landscape,” Comcast president Mike Cavanagh said in a statement. “Taken together, the entirety of NBCUniversal will be on a new growth trajectory, fueled by our world-class content, technology, IP, properties, and talent – all working in concert with each other as an integrated media company.”

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