Before NBCU was considered Spinning Off Cable Networks, It Shut Down Many People

Unlike its rivals, NBCUniversal has long had a legitimate fear of zombies.

It’s not the sad, undead kind that goes around trying to eat brains, but rather, the various media: the “Undead” network that long ago gave hope of growing the audience around the clock and instead ran only a few hours of the original show, combined. with the endless repetition of TV shows, such as “Ridiculousness” (MTV); “Leave to Fear” (HLN); or “Seinfeld” (Comedy Central).

Paramount Global and Warner Bros. Discovery, the two largest owners of these cable-networks, haven’t had much to show for keeping them in business. Indeed, Warner in August disclosed a $9.1 billion loss of its TV assets, citing business winds as well as the expected loss of its lucrative deal with the NBA to televise games. its color. Paramount Global followed suit, revealing a $5.98 billion damage charge as it prepares to be acquired by Skydance Media.

NBCU has not disclosed the script, and one reason is that the company has spent years shutting down underperforming networks with poor reviews. “There are too many channels,” said NBCU CEO Steve Burke in 2016, after the company spun off Style and G4. Also gone: Esquire, Cloo and Chiller. In 2021, NBCU raised eyebrows by announcing plans to close NBCSN – sports network! The idea: sports broadcasts can anchor the NBC network, the USA cable channel and the Peacock streaming service (Commentator: “They have.”)

Now, Comcast, NBCU’s parent, will consider a potential cable portfolio opportunity, the company revealed Thursday during a call with investors. The idea, said Comcast president Mike Cavanagh, is to analyze what the ramifications of such a deal would be before making a decision. He said: “There might be smart things to do and we want to learn about them. That news immediately sparked the idea that Warner Bros. Discovery or Skydance may want to acquire such assets, although Cavanagh stressed the goal – if decided – would be to give a new company to shareholders.

Craig Moffett, an analyst at MoffettNathanson, said: “Investors have been yearning for this exact thing, or at least something close to it, for years. A deal like this could lift the Peacock and NBCU sports properties out of the recession. cable.

It’s no secret that self-made cable networks have become a complex but toxic commodity in today’s media landscape. They continue to generate millions in advertising and revenue, but they need millions of content to maintain their content at a time when more viewers are moving to streaming services. Disney’s FX, for example, was long known for its signature dramas and series, which aired one episode a week during certain seasons of the year. tends to suit the needs of its producers. Now, many people think of “Bear,” an FX favorite, as something related to Hulu, the streaming service of parent Walt Disney Co.

NBCU’s cable facilities are not all fully mobile. The Universal Kids Network has never reached the heights the company had planned for when it acquired DreamWorks Animation for $3.89 billion. Of course, NBCU might have been better off keeping the store under its original moniker, Sprout, when it was designed to appeal to preschoolers and their parents. Oxygen, once a network supported by Geraldine Laybourne and Oprah Winfrey, and created to appeal to a female audience, is almost the center of a true cookie crime where they compete with it.

But there are still good deals to be found. MSNBC and CNBC have solid audiences, and the USA, while no longer known as the home of blue-sky dramas like “Burn Notice” or “White Collar,” still brings in the crowds. more about the matches and the return of “WWE SmackDown.” Bravo has developed a die-hard fan base of people who want to get all the details of any edition of “Real Housewives” that is on the show.

Comcast may be wondering if it can avoid some of the problems Disney has faced. Charter Communications received notice for its recent vehicle negotiations with the company, in which Disney agreed to make Disney + and ESPN + available to some of its subscribers, while providing Charter access to cable properties such as Freeform, Disney Junior and Disney XD. .

Damage to the cable can cause many problems. Can NBCU’s news operation still thrive if MSNBC and CNBC are separated from NBC News’ newsgathering tools? Doesn’t cable pay for valuable reporting dollars? And do cable and satellite operators have agreements that ensure a certain number of shows continue to air in the USA?

Cable cut the value of Paramount and Warner. NBCUniversal could still generate some profit from the deal if executives play their hands right. Comcast and NBCUniversal have the luxury of being able to scrutinize such things, because, unlike their competitors, they did not blow the whistle beyond the grave.