Using the word “independent” multiple times to describe NBCUniversal‘s forthcoming independence, Comcast Co-CEOs Brian Roberts and Mike Cavanagh said they are already talking with potential partners.
Speaking to Wall Street investors on Comcast’s second-quarter earnings call Thursday, the execs said NBCU was already starting to explore its options. In an apparent reference to this month’s edition of the annual Allen & Co. Sun Valley event for media and tech execs, Roberts said, “We just came from one of the conferences, and there’s just great ideas, and I’m excited about the road ahead to expand the partnerships we’ve already got.”
Cavanagh added that NBCU is “in a great position to partner with others.”
The comments were the first in an earnings context by Comcast execs since the company announced its plan to split into two separate companies. One, anchored by NBCUniversal and Sky, will focus on entertainment content, while the other will operate the legacy cable TV, broadband and wireless networks. The separation is expected to be completed by next summer.
Asked about whether NBCU will have enough scale to be a viable player, or whether it might instead merge or acquire another company in the sector, Cavanagh called it “an extremely valuable collection of assets.” He said NBCU and Sky “do have the heft and the relationships and the operational capabilities to continue to be a major player, as an independent.” The split, he added, will “give it the focus and opportunity and platform to invest behind the growth opportunities that it has in its own businesses, and the spaces around these businesses that offer growth, and where the business has the right to play.”
The exec name-checked various networks and studio operations, throwing in viewership stats and reach metrics.
Sports is a key element in the mix, Cavanagh said, noting this year’s Super Bowl, Winter Olympics and World Cup coverage, plus ongoing deals with the NFL, NBA and others. “Our relationships with our leagues go way beyond our financial terms of our deals,” he maintained. “We’ve built very longstanding relationships that are growing their audiences, elevate the presentation of their sports for the long term, and expand the value of their rights, frankly. And then we do that through the world-class production that we are known for, great distribution across both broadcast and streaming, and the ability to reach fans at scale.”
Ultimately, Cavanagh said, “We do feel really good about the business that we have. We do think that these assets are incredibly valuable. We love the fact that they operate well together.” At the same time, he continued, “As an independent, we take all these great assets and we are willing to partner with others. So other strategies are a little more walled gardens. Our approach is to build great businesses that serve our own platforms, but look for opportunities to partner or bundle, and exhibit other people’s IP in our parks, and create IP in our studios that go to other platforms. I think that’s a good strategy for the collection of assets we have, and I think it presents a path for growth in this business over time.”
Roberts said said “being independent” will enable NBCU to “partner well, and to bring to life people’s dreams and content, and sporting events, and the like.”
Get our Breaking News Alerts and Keep your inbox happy.
Comments On Deadline Hollywood are monitored. So don't go off topic, don't impersonate anyone, and don't get your facts wrong.
Δdocument.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );