Cavanagh, Michael J

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    Comcast Explores Spin-Out of Cable Business

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    The company’s president, Mike Cavanagh, said the company was also considering finding a partner for its Peacock streaming service.Comcast, one of the nation’s biggest television companies, said on Thursday that it was weighing whether to cleave its cable networks from the rest of the company, a move that could put it in position to shake up the struggling cable industry.Mike Cavanagh, the company’s president, said on an earnings call that the company could put the cable networks owned by its NBCUniversal division — which include Syfy, Bravo and USA — into a new company.As Americans continue to drop their cable TV subscriptions, cable networks are generally considered the most problematic part of traditional media businesses like NBCUniversal.“Like many of our peers in media, we are experiencing the effects of the transition in our video businesses, and we have been studying the best path forward for these assets,” Mr. Cavanagh said.Mr. Cavanagh said that the new company would be owned by Comcast shareholders and that it would be “well capitalized” — implying that it would not be loaded up with debt from its parent company, a common tactic for corporate spinoffs. NBC — a broadcast network owned by Comcast — would probably not fit into the new company.His comments came after Comcast reported a 3.3 percent decrease in net income last quarter, even as revenue increased by 6.5 percent, to $32 billion. The company reported losses of 87,000 U.S. customers for its broadband services compared with the same period last year, and cable TV subscribers continued to decrease. The company’s share price was up nearly 3 percent in midmorning trading.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      For Cesar Conde, NBC’s News Chief, Corporate Polish Meets Partisan Reality

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      Cesar Conde, a leader with an M.B.A. but a limited journalism background, is facing the toughest scrutiny of his career.Cesar Conde is not the typical leader of a major news institution.A Wharton-trained executive who revived the fortunes of Telemundo and sits on the boards of Pepsi and Walmart, Mr. Conde had limited experience in journalism when, in 2020, he became the chairman of NBC’s sprawling news division, including MSNBC, CNBC and franchises like “Meet the Press,” “Nightly News” and the “Today” show.Now he is trying to navigate the biggest crisis of his tenure: a journalistic firestorm that prompted an open revolt among his stars and has fueled internal questions about just how neatly Mr. Conde’s corporate experience and ambitions gel with the unique challenges of the news business.The rapid hiring and dismissal of Ronna McDaniel, the former chairwoman of the Republican National Committee, stunned network journalists over the past week, with many asking why Mr. Conde and his deputies had brought on someone who had vilified NBC and advanced former President Donald J. Trump’s efforts to overturn the 2020 election.The blowback facing Mr. Conde, 50, a former fellow in George W. Bush’s White House who prides himself on having an even-keeled, nonpartisan reputation, is coming from both sides of the aisle. Left-leaning fans of MSNBC felt betrayed, and Republican officials are mocking NBC as biased, even threatening to bar its reporters from this summer’s nominating convention.At elite retreats like the Aspen Ideas Festival, Mr. Conde, who declined to be interviewed, likes to say he runs “the largest news organization in the country.” As he heads into the scrutiny of a general-election campaign, he is discovering just how hard that job can be.Two of Mr. Conde’s newsroom leaders — Rebecca Blumenstein, the NBC News president of editorial, and Carrie Budoff Brown, who oversees political coverage — recommended Ms. McDaniel to Mr. Conde; Rashida Jones, the MSNBC president, also signed off, according to two people familiar with the discussions. Mr. Conde trusted the judgment of his top journalists, the people said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More