Cable giant Comcast Corporation is weighing a spinoff of its NBCUniversal cable networks. Part of this includes its left-leaning struggling cable business MSNBC. Other assets on the block include CNBC, Bravo, E!, Syfy, USA Network, and Oxygen True Crime. The cable-media juggernaut could also form a “new, well-capitalized company owned by our shareholders and comprised of our our strong portfolio of cable networks,” according to Comcast President Mike Cavanagh. According to market-research firm Kagan, MSNBC’s subscriber base has slimmed by around 6% in 2024, to 64.5 million, compared with 68.5 million in 2023. Affiliate revenue is predicted to shrink by approximately 4% in 2024, to $295.1 million, versus $307 million in the year-earlier period. There are too many cable channels, while more streaming services are being launched in the niches. In 2021, NBCUniversal announced plans to close NBCSN.

“Like many of our peers in media, we are experiencing the effects of the transition in our video businesses, and have been studying the best path forward for these assets. We are now exploring whether creating a new well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks would position them to take advantage of opportunities in the changing media landscape and create value for our shareholders,” Cavanagh explained in Comcast’s third-quarter earnings conference call on Thursday. “We are not ready to talk about any specifics yet, but we’ll be back to you if and when we reach firm conclusions.”

The possible separation would not include broadcast network NBC or streaming service Peacock. Cable customers maintain a path of cutting their traditional TV bundles in favor of streaming shows and movies.