Sports
Behind Comcast's big TV deal: a bleak picture for once mighty cable industry
When Comcast swallowed NBC and Universal Studios 14 years ago, the sibling cable channels USA Network, Bravo and CNBC were considered diamonds in the rough.
USA Network had gained traction with its “Blue Skies” programming strategy: sunny and upbeat TV programs infused with a buoyant energy and natural light. The cable channels were NBCUniversal’s equivalent of blue skies, routinely delivering three-quarters of the company’s profit. In 2012, cable networks threw off a robust $3.3 billion in cash flow.
Times have changed.
Comcast this week announced its plans to jettison all but one cable channel into a separate, stand-alone publicly traded company that will take shape over the next year.
“This is a reminder that the cable television network business is yesterday’s news,” analyst Craig Moffett said Wednesday in an interview. “If it feels like Comcast is shedding itself of an albatross — that’s because it is.”
For now, Comcast’s cable channels remain a viable business by generating $7 billion in annual revenue. But you have only to look at the properties the Philadelphia cable giant is keeping to see how the top brass has picked future winners and losers in a fast-changing media landscape.
Comcast will hold on to the NBC broadcast network, with its NBC News and NBC Sports units, along with its prolific Los Angeles-based Universal film and television studios, Universal Studios theme parks, local TV stations, including KNBC-TV in Los Angeles, and streaming service Peacock, which now has 36 million subscribers.
The lone cable outlet set to remain within NBCUniversal is Bravo, which has a bold brand, cultural cachet and the “Real Housewives” franchises. Company executives reviewed data that showed NBC and Bravo shows had strong viewership on Peacock, insiders said.
The spinoff company will be composed of the remainder of the cable channels, including MSNBC, CNBC, USA, Oxygen, Syfy, E! and the Golf Channel as well as digital properties, including Rotten Tomatoes, Fandango and SportsEngine.
Comcast’s move is the strongest sign yet of alarm reverberating throughout Hollywood’s traditional companies. Cable channels have long been a key economic pillar by generating billions of dollars in cable distribution fees that more than covered up the misses when big-budget movies flopped or during advertising recessions.
No more. Rampant cord-cutting has roiled the television business and linear cable channels — once a mighty draw for couch-potato viewing — have become endangered species.
Industry executives privately acknowledge that they unintentionally contributed to the erosion by making cable channels less appealing — stuffed with endless sitcom reruns, dated movies and extended commercial breaks, contributing to the rise of on-demand streaming services.
Millions of consumers have switched to streaming platforms that offer fewer commercials, or none at all, and lower subscription prices. In the first six months of the year, an additional 4 million customer homes dropped pay-TV, according to a recent MoffettNathanson report.
That’s a 30% decline since 2012, when there were more than 100 million pay-TV homes in the U.S.
Consumers also can cancel streaming services with a click of a button — without haggling with a customer service representative at a pay-TV company call center.
The toll has been enormous. Thousands of entertainment company workers have been laid off in the last four years in seemingly endless waves of restructuring. Traditional media companies have struggled to shore up their slumping stock prices.
In August, Warner Bros. Discovery took a $9-billion write-down on the value of its basic cable portfolio, which includes CNN, TBS, TNT and Cartoon Network. That same month, Paramount Global wrote down $6 billion in value for its cable channels, including MTV, Nickelodeon, VH-1 and Comedy Central.
Pay-TV channel blackouts have become more common. And pioneering satellite TV company DirecTV two months ago announced its plan to buy competing Dish Networks for $1. That merger is expected to face regulators’ scrutiny.
More separations and roll-ups may be coming.
Warner Bros. Discovery Chief Executive David Zaslav has telegraphed his desire to wheel or deal assets now that President-elect Donald Trump is preparing to take office. Zaslav’s company is desperate to pay down debt taken on two years ago when the smaller Discovery merged with WarnerMedia, relieving AT&T of its entertainment headache.
Although Comcast’s move is bold, the reckoning began seven years ago after Netflix had become the go-to destination for younger viewers. That’s also when Rupert Murdoch, the now 93-year-old media baron, decided to sell much of 21st Century Fox to Walt Disney Co. Some investors and analysts believe the $71-billion price for the Fox assets was wildly overvalued.
Since then, Disney has taken steps to de-emphasize cable distribution, and the Burbank powerhouse is planning to launch ESPN directly to consumers next year — a move that many in the industry believe will mark the tipping point for the cable channel business.
“Comcast is accelerating this pressure [in the cable business] with its success with Peacock, which makes the legacy pay-TV model with multi-channel bundling of cable networks a much more difficult prospect going forward,” Raymond James analyst Frank G. Louthan wrote in a note Wednesday.
Comcast executives say they are not entirely pulling the plug on their cable channel business, noting that the new company will have resources to buy additional channels or other properties to build scale..
“The company will have significant cash flow, a strong balance sheet, and the financial flexibility to pursue growth opportunities, both organically and potentially through acquisitions,” Comcast President Mike Cavanagh said in a note to employees.
The spinoff company, which doesn’t yet have a name, will continued to be controlled by Brian Roberts, chair of Comcast.
Mark Lazarus, who currently serves as chair of NBCUniversal Media Group, will shift to the new company as its chief executive.
Comcast shareholders will receive stock in the new company in tax-free transactions.
Moffett, the analyst, said the cable channel company will face considerable challenges maintaining the channels’ position in the pay-TV and advertising markets.
“This [spinoff] is good news for investors but it’s not a guaranteed success,” Moffett said. “We’ve seen this movie before with Viacom and CBS. Separating the broadcast network from the cable channels could leave the cable channels adrift.”
In 2006, the late mogul Sumner Redstone split his media empire consisting of the cable channels and the Paramount film studio. CBS forged forward with its broadcast network, television studio, Showtime and a book publishing house.
Five years ago, Redstone’s daughter, Shari, reunified the company. In July, she decided to unload the entire enterprise, now called Paramount Global, to the Larry Ellison family. That transaction also faces a regulatory review.
Moffett and other analysts say the spinoff company could struggle to maintain the size of distribution fees that Comcast was able to wrangle from pay-TV operators, thanks to the muscle of NBC and its marquee program, “Sunday Night Football.”
Some analysts wonder whether Comcast is preparing the cable channels to be absorbed by another company or a private equity firm.
“It looks like this is set up for [another] transaction,” Moffett said of the Comcast spin.
Wall Street seemed to endorse the spinoff news. Comcast shares gained 1.6% Wednesday to close at $42.99.
Sports
Tom Izzo explodes on former Michigan State player in wild scene: ‘What the f— are you doing?’
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Michigan State head coach Tom Izzo has been known to get visibly angry with his players over his years in East Lansing, but what happened Monday night against USC was different.
Izzo let loose his frustration on a former player.
During the Spartans’ blowout over the Trojans, 80-51, Izzo was spotted unloading on former Michigan State center Paul Davis, who played for the team from 2002-06, after he caused a disturbance in the stands.
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Head coach Tom Izzo of the Michigan State Spartans reacts to a call during a game against the Nebraska Cornhuskers during the first half at Pinnacle Bank Arena Jan. 2, 2026, in Lincoln, Neb. (Steven Branscombe/Getty Images)
Referees pointed out Davis, who was a spectator, from his courtside seat after he was among many in the building who disagreed with a call in the second half. Davis stood up and shouted at referee Jeffrey Anderson.
Anderson responded with a loud whistle, stopping play and pointing at Davis. Then, Anderson went over to Izzo to explain what happened, and the 70-year-old coach went ballistic.
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First, he was motioning toward Davis, and it was clear he asked his former center, “What the f— are you doing?”
Davis was met by someone asking him to leave his seat, and that’s when Izzo went nuts. He shouted “Get out of here!” at Davis, who appeared to gesture toward Izzo, perhaps in apology for disturbing the game.
Izzo was asked about Davis’ ejection after the game.
“What he said, he should never say anywhere in the world,” Izzo responded when asked what happened. “That ticked me off. So, just because it’s 25, 20 years later, I’m going to have to call him tomorrow and tell him what I thought of it. And you know what he’ll say? ‘I screwed up, coach. I’m sorry.’”
Izzo quickly clarified that what Davis said “wasn’t something racial” and “it wasn’t something sexual.”
Michigan State Spartans head coach Tom Izzo protests a call that benefited the Iowa Hawkeyes during the first half at Jack Breslin Student Events Center Dec. 2, 2025. (Dale Young/Imagn Images)
“It was just the wrong thing to say, and I’ll leave it at that.”
Davis later met with reporters Tuesday, apologizing for his actions.
“I’m not up here to make any excuses. I’m up here to take accountability, to own it,” Davis said. It was a mistake that will never happen again. It was a mistake that’s not me, but, unfortunately, last night it was.”
Izzo said Davis was one of his “favorite guys” during his time playing for the Spartans. He had a breakout sophomore campaign with 15.8 points, 6.2 rebounds and two assists per game in 30 starts for Izzo during the 2003-04 season.
Head coach Tom Izzo of the Michigan State Spartans reacts during a game against the Nebraska Cornhuskers during the second half at Pinnacle Bank Arena Jan. 2, 2026, in Lincoln, Neb. (Steven Branscombe/Getty Images)
In his senior year, Davis averaged 17.5 points, a career-high, in 33 games.
He was taken in the second round of the 2006 NBA Draft by the Los Angeles Clippers. Davis played just four seasons in the league, his final one with the Washington Wizards.
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Sports
Problems continue to mount for UCLA men in loss to Wisconsin
MADISON, Wis. — Can a team be in crisis just a handful of games into conference play?
UCLA is testing that possibility given what happened here Tuesday night as part of a larger downward trend.
Lacking one of their top players with guard Skyy Clark sidelined by a hamstring injury, the Bruins also were deficient in many other areas.
Defense. Heart. Toughness. Cohesion. Intelligence.
In a game that the Bruins needed to win to get their season back on track and have any realistic chance at an elite finish in the Big Ten, they fell flat once more.
Another terrible first half led to another failed comeback for UCLA during an 80-72 loss to Wisconsin on Tuesday night at the Kohl Center, leaving the Bruins in search of answers that seem elusive.
There was a dustup with 10 seconds left when UCLA’s Eric Dailey Jr. pushed Wisconsin’s Nolan Winter after absorbing a hard foul, forcing a scrum of players to congregate along the baseline. Winter was assessed a flagrant-1 foul and Dailey a technical foul that was offset by a technical foul on Badgers guard Nick Boyd.
About the only thing to celebrate for the Bruins was not giving up.
Thanks to a flurry of baskets from Dailey and a three-pointer from Trent Perry that broke his team’s 0-for-14 start from long range, UCLA pulled to within 63-56 midway through the second half. Making the Bruins’ rally all the more improbable was that much of it came with leading scorer Tyler Bilodeau on the bench with four fouls.
But Wisconsin countered with five consecutive points and the Bruins (10-5 overall, 2-2 Big Ten) never mounted another threat on the way to a second consecutive loss.
Dailey scored 18 points but missed all five of his three-pointers, fitting for a team that made just one of 17 shots (5.9%) from long range. Bilodeau added 16 points and Perry had 15.
Boyd scored 20 points to lead the Badgers (10-5, 2-2), who won in large part by their volume of three-pointers, making 10 of 30 attempts (33.3%) from beyond the arc.
Unveiling a turnover-choked, defensively challenged performance, UCLA played as if it were trying to top its awful first-half showing against Iowa from three days earlier.
It didn’t help that the Bruins were shorthanded from tipoff.
With Clark unavailable, UCLA coach Mick Cronin turned to Perry and pivoted to a smaller lineup featuring forward Brandon Williams alongside Bilodeau as the big men.
For the opening 10 minutes, it felt like a repeat of Wisconsin’s blowout victory over UCLA during the Big Ten tournament last March. The Badgers made seven of 11 three-pointers on the way to building a 20-point lead midway through the first half as Cronin continually tinkered with his lineup, trying to find a winning combination.
It never came.
He tried backup center Steven Jamerson II for a little more than a minute before yanking him after Jamerson committed a foul. He put in backup guard Jamar Brown and took him out after Brown gave up a basket and fumbled a pass out of bounds for a turnover. Backup guard Eric Freeny got his chance as well and airballed a three-pointer.
Wisconsin surged ahead with an early 13-0 run and nearly matched it with a separate 11-0 push. The Bruins then lost Perry for the rest of the first half after he hit his chin while diving for a loose ball, pounding the court in frustration with a balled fist before holding a towel firmly against his injured chin during a timeout. (He returned in the second half with a heavy bandage.)
Just when it seemed as if things couldn’t get worse, they did. Williams limped off the court with cramps late in the first half and the Bruins failed to box out Wisconsin’s Andrew Rohde on two possessions, leading to a putback and two free throws after he was fouled on another putback attempt.
UCLA almost seemed fortunate to be down only 45-31 by the game’s midpoint, though being on pace to give up 90 points couldn’t have pleased a coach known for defense.
Another comeback that came up short didn’t make things any better.
Sports
Dolphins’ Tua Tagovailoa open to fresh start elsewhere after disappointing season: ‘That would be dope’
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Tua Tagovailoa appears to be ready to move on from the Miami Dolphins – a feeling that seems mutual between the two sides.
Tagovailoa was benched for the final three games of the season due to poor performance. A day after the Dolphins’ season ended with a 38-10 loss to division rival New England, the sixth-year signal-caller appeared open to the idea of a “fresh start.”
Mike McDaniel speaks with Miami Dolphins quarterback Tua Tagovailoa (1) in the fourth quarter of a game against the Buffalo Bills at Hard Rock Stadium on Sept. 25, 2022, in Miami Gardens, Florida. (Megan Briggs/Getty Images)
“That would be dope. I would be good with it,” Tagovailoa said Monday, according to The Palm Beach Post, when asked specifically if he was “hoping for a fresh start.”
When asked by another reporter if he understood “fresh start” as playing “elsewhere,” Tagovailoa reportedly confirmed it.
The remarks came the same day that head coach Mike McDaniel confirmed that the team would be approaching the 2025-2026 season with a competitive mindset for the position.
“In 2026, I think there will be competition for our starting quarterback. What that is and how that looks, there’s a lot that remains to be seen. It’s the most important position on the football field, and you have to make sure you do everything possible to get the best person out there on the field.”
Miami Dolphins quarterback Tua Tagovailoa runs off the field during the first half of an NFL football game against the New England Patriots in Foxborough, Massachusetts, on Jan. 4, 2026. (AP Photo/Robert F. Bukaty)
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“Who that is – whether they’re in-house or somewhere else, that’s something that we’ll be extremely diligent on,” he continued. “But I know there will be competition for those reins. That much I do know.”
Tagovailoa threw for 2,660 yards with 20 touchdowns this season, but he struggled with accuracy and mobility, throwing a career-high of 15 interceptions. His poor performance comes just one season after signing a four-year, $212.4 million contract extension in July 2024.
Miami Dolphins quarterback Tua Tagovailoa speaks during a press conference after an NFL football game against the Baltimore Ravens, Thursday, Oct. 30, 2025, in Miami Gardens, Florida. (AP Photo/Rebecca Blackwell)
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The Dolphins face a serious decision regarding Tagovailoa, as releasing him next year would result in a $99 million dead cap charge. If the move is designated as a post-June 1 release, those charges would be split over two years, with $67.4 million allocated to the 2026 cap and $31.8 million in 2027.
The Associated Press contributed to this report.
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