As legacy media navigates the transition from the declining linear business to streaming, Comcast CEO Brian Roberts has taken a bold step: cutting the cord from his media conglomerate’s cable network portfolio.
The move is designed to position NBCUniversal for future growth, jettisoning the assets that are dragging down share value and structuring the spinoff, temporarily called SpinCo, to drive a cash-flow business for as long as cable can hang on.
SpinCo will meanwhile be able to take advantage of opportunities in the shifting media landscape, such as consolidation with other companies’ linear assets, while also releasing value for Comcast’s shareholders.