How a Comcast Cable Network Sale Could Fuel Media Consolidation

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A possible spinoff is a chance to roll up other distressed linear TV assets, but the move would face its own challenges

A spinoff of Comcast’s cable network portfolio, as suggested by president Mike Cavanagh last week, could get the cable behemoth’s most-distressed assets off its books while sparking a new wave of consolidation in the fast-declining linear TV business.

The review comes as competitors Paramount Global and Warner Bros. Discovery have taken write-downs totaling $15 billion related to the value of their linear networks and softness in the advertising market this year. And Comcast is likely to join them soon in writing down the value of its cable assets, analysts told TheWrap.

A spun-off company filled with Comcast cable networks could be worth an estimated $23 billion or more.