The decline of cable television continues to accelerate with Comcast set to float a number of cable channels off into the wilderness. Will other legacy companies follow suit? Plus, Comcast has made some personnel changes which include the not so surprising ascension of NBCUniversal Studio Chairman Donna Langley. Kim Masters and Matt Belloni take a look at Comcast’s latest moves.
End of an Era? It's official. Comcast will be spinning off several cable networks into a separate entity. MSNBC, CNBC, E!, and SyFy are all set to leave the fold. Along with the decision, Comcast has announced the promotion of NBCUniversal chief content officer Donna Langley to Chairman of NBCUniversal Entertainment and Studios. “This was the worst kept secret in town,” says Belloni. “But it is a huge win for her.”
Domino effect? Though Comcast’s decision is not too surprising, there are still many unanswered questions. Will networks like MSNBC be forced to completely rebrand? What will become of Bravo, one of the few Comcast cable networks which reliably drives viewers to the Peacock streaming service on the strength of zeitgeisty franchises like The Real Housewives and Below Deck? Langley reportedly has her sights set on keeping Bravo in the mix. But the biggest questions stemming from this news involve the potential ripple effects: “You have to wonder which other companies are looking at following suit among the legacy studios,” says Masters
Cash flow woes? What sets Comcast apart from other companies that have toyed with the idea of ditching cable is its vast business. Disney CEO Bob Iger previously floated something similar, and Warner Bros. Discovery has also toyed with the idea… despite a lack of cash flow. “Comcast is such a big company with so many other businesses,” says Belloni. “They can afford to do this in a way that Warner Discovery and Paramount probably could not.”