Comcast to spinoff cable channels

Article Excerpt

COMCAST CORP. $43 is a hold. The company (Nasdaq symbol CMCSA; Consumer sector; Shares outstanding: 3.9 billion; Market cap: $167.7 billion; Dividend yield 2.9%; Takeover Target Rating: Lowest; www.comcast.com) is a global media business with five main businesses: Residential Connectivity & Platforms (cable TV systems), Business Services Connectivity, Media (including NBCUniversal), Studios, and Theme Parks. The company now plans to bundle its cable TV channels—including MSNBC, CNBC and USA Network—into a separate business and spin it off to its shareholders, probably in 2025. These channels are profitable, but face increasingly strong competition from Internet streaming services such as YouTube and TikTok. The remaining entity is also under pressure as consumers switch to streaming services like Netflix. Comcast is a hold. hold. …