Cable networks are still profitable, but they're hemorrhaging subscribers and revenue every year as Americans cancel traditional pay TV for streaming services.
Still, Disney's cable networks, including FX and Disney Channel, are more integrated with its streaming platforms than NBCUniversal's cable networks are with Peacock, the company's subscription streaming service.
That may ultimately be where cable networks are heading — to private ownership willing to harvest them for cash.
Another possible path for the spinoff is as a rollup entity for other cable networks.
Discovery's debt and its cable networks.
Persons:
It's, Peacock, Mark Lazarus
Organizations:
Comcast, Investors, Cable, Disney, FX, Disney Channel, SpinCo's, CNBC, MSNBC, Warner Bros, Paramount Global
Locations:
Peacock