Comcast Explores Channelizing Resources From TV Networks To Boost Growth

Comcast Corp CMCSA weighed slashing up to $1 billion from NBCUniversal TV networks' budget to boost other parts of the business, Bloomberg reports.
NBCUniversal CEO Jeff Shell urged top deputies to explore savings at its legacy cable and broadcast TV networks.
Executives have explored many ways of cutting costs, including layoffs, trimming budgets for developing new programs, and changing the mix of programs on TV to produce more low-cost shows.
Reallocating money from profitable but slow-growing TV networks could allow Comcast to channel more resources into its streaming service, Peacock, and theme parks.
Shell encouraged Comcast to prioritize Peacock, as evidenced by its higher spending and losses.
Peacock, at 13 million subscribers, showed no growth in the most recent quarter. Comcast, the largest U.S. cable TV provider, reported no new customers for its internet access business.
Every major media company strived to cut costs due to Wall Street pressure.
Warner Bros. Discovery, Inc WBD is terminating thousands of workers with $3 billion in cost cuts after its big merger. At the same time, Netflix Inc NFLX has slowed the growth of its investment in original programming.
The U.S. wireless carriers T-Mobile US, Inc TMUS and broadband-internet providers like Comcast fought to win customers from each other.
The wireless threat contributed to the cable industry's worst quarter in years.
Price Action: CMCSA shares traded lower by 0.3% at $36.79 in the premarket on the last check Friday.

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