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  • Comcast to spin off cable TV networks into new company SpinCo

    Comcast to spin off cable TV networks into new company SpinCo

    MUMBAI: The reshaping of legacy behemoth media and entertainment companies continues. US media megacorp Comcast today announced its intent to create a new publicly traded company comprised of a strong portfolio of NBCUniversal’s cable television networks, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel along with complementary digital assets including Fandango and Rotten Tomatoes, GolfNow and Sports Engine, through a tax-free spin-off. 

    The well-capitalised independent company (SpinCo) will have significant scale as a pure-play set of assets anchored by leading news, sports and entertainment content. Over the past twelve months ended 30 September 2024, SpinCo generated approximately $7 billion in revenue.

    It will be an industry-leading news, sports and entertainment cable television business with a focused strategic direction. SpinCo’s stable of marquee brands will provide a diverse and differentiated content offering that will reach approximately 70 million US households. 

    Comcast is targeting to complete the spin-off in approximately one year, subject to the satisfaction of customary conditions, including obtaining final approval from its board, satisfactory completion of SpinCo financing, receipt of tax opinions and receipt of any regulatory approvals. 

    “When you look at our assets, talented management team and balance sheet strength, we are able to set these businesses up for future growth,” said Comcast chairman & CEO Brian L. Roberts. “With significant financial resources from day one, SpinCo will be ideally positioned for success and highly attractive to investors, content creators, distributors and potential partners.” 

    The planned spin-off will also strategically position NBCUniversal with its leading broadcast and streaming media properties, including NBC entertainment, sports, news and Bravo – which all power Peacock – along with Telemundo, the theme parks business and film and television studios.

    “This transaction positions both SpinCo and NBCUniversal to play offense in a changing media landscape,” said Comcast president Mike Cavanagh. “Taken together, the entirety of NBCUniversal will be on a new growth trajectory, fuelled by our world-class content, technology, IP, properties and talent – all working in concert with each other as an integrated media company.”

    The company said in a press release that “as a global media and technology company, Comcast will be well-positioned to continue to invest in its strategic core growth businesses across its content & experiences and connectivity & platforms businesses, including residential broadband, wireless, business services, streaming, studios and theme parks. The transaction is expected to be accretive to revenue growth at Comcast and approximately neutral to Comcast’s leverage position.”

    While SpinCo will operate as an independent business, it will enter into a transition services agreement with NBCUniversal to allow SpinCo to operate seamlessly from day one. 

    The new firm will be led by CEO Mark Lazarus, the current chairman of NBCUniversal Media group. Anand Kini who is the current chief financial officer of NBCUniversal and EVP of corporate strategy at Comcast, will serve as SpinCo’s  chief financial officer and chief operating officer. Together, the press release said, the duo will lead the development of an independent strategy, while also establishing SpinCo as a potential partner and acquirer of other complementary media businesses.

    “As a standalone company with these outstanding assets, we will be better positioned to serve our audiences and drive shareholder returns in this incredibly dynamic media environment across news, sports and entertainment,” said Mark Lazarus. “We see a real opportunity to invest and build additional scale and I’m excited about the growth opportunities this transition will unlock. Our financial strength will also provide capacity for an attractive capital return policy while allowing for investment in the growth of these businesses.”

  • NBCUniversal to telecast Tokyo Olympics across eight networks

    Mumbai: NBCUniversal will telecast 7,000 hours of the upcoming Tokyo Olympics across eight digital networks and multiple digital platforms. The telecast will begin on 20 June and will run through 8 August. 

    It should be noted that NBCUniversal is telecasting the Olympic games for the 11th consecutive time. NBC’s first Olympics production began in 1964 in Tokyo. The network is planning to telecast 250 hours of Olympic games across 17 days headlined by its primetime coverage. 

    A total of 1,300 hours of the Tokyo Olympics will be telecasted live on USA Network, CNBC, NBCSN, Olympic Channel, and Golf Channel, Telemundo Deportes and Universo have at least 309 hours content for Spanish viewers. NBCSN (440 hours) and USA Network (388.5 hours) will present the round-the-clock live coverage beginning on 24 July. 

    The NBCSN coverage will primarily focus on soccer, softball, beach volleyball, table tennis, handball, badminton, fencing, and equestrian, while USA Network will telecast basketball, soccer and water polo as well as swimming, track & field, diving, beach volleyball, volleyball, cycling, and triathlon. 

    Diving, beach volleyball, skateboarding, rowing, canoeing, archery, water polo, and rugby will be telecasted on CNBC (124.5 hours). Golf Channel (111 hours) will cover men’s and women’s tournaments, while the Olympic Channel (242 hours) will focus on tennis and wrestling events. 

    NBC had earlier announced this year that the network will telecast the opening ceremony of the Tokyo Olympics on 23 June at 6.55 AM EDT. The time zone in Tokyo is 13 hours ahead of the Eastern Time Zone, and as a result, most of the Olympic matches will be telecasted in the US primetime.

    NBCOlympics.com and the NBC Sports app will telecast 5,500 hours of coverage digitally. The show lineup for NBCUniversal’s Peacock streaming service is yet to be finalized. 

  • WWE opens 2007 with strong ratings in US

    WWE opens 2007 with strong ratings in US

    MUMBAI: World Wrestling Entertainment (WWE) has announced that its TV ratings in the US started off this year in a positive manner. It achieved its highest household deliveries of the current season on both Monday Night Raw on USA Network and Friday Night SmackDown on The CW.

    On 1 January, Raw’s feature of John Cena versus Kevin Federline delivered 3,564,000 TV households, its highest performance of the season, and the largest household delivery since August 21, 2006. Raw it says was the number one primetime cable programme during the first week of the year among households, total viewers, Male Teens (M12-17) and Men 18-34. Raw also posted season high ratings among Males 6-11, Persons 6-11, Adults 18-49 and Adults 25-54.

    SmackDown on 5 January, 2007, delivered 3,371,000 TV households, its highest performance in nearly a year and the highest since joining the CW network. SmackDown WWE says was the number one primetime program on television Friday night among Male Teens (M12-17) and Total Teens (P12-17), and the top rated broadcast program among Males 6-11. SmackDown made CW the number one broadcast network among Males 6-11, Males 12-17, Males 12-34, Males 18-24, Males 18-34, Persons 6-11, Persons 12-17 and Persons 12-34.

    SmackDown posted its highest rating among total teens (persons 12-17) since June 23, 2005 and highest among female teens (females 12-17) since November 13, 2003. SmackDown also achieved its highest delivery of the season among Persons 12-34.

  • USA Network to take WWE to the next level with film based initiative

    USA Network to take WWE to the next level with film based initiative

    MUMBAI: American cable network USA Network is looking to build on its relationship with World Wrestling Entertainment (WWE).

    The network is unveiling plans to develop and produce action movies aimed at the WWE audience.

    USA Network president Bonnie Hammer said, “The return of WWE to USA has been a knockout for both parties. We are looking forward to building and expanding on our audience as well as the Raw fan base with high impact, adrenaline-fueled, larger-than-life action just like they’ll find in the ring.”

    One film is called Hunting Rabbets. This features Jack and Bobby Rabbet, hard luck brothers who operate a failing repossession business. When Bobby neglects to pay their axes, a secret
    government agency confronts the Rabbets with an ultimatum: go to prison, or work off the debt.

    Now, as unofficial government employees, Jack and Bobby must use their repossession skills to search America for classified items the government cannot admit it has lost.

    Another film is called Crush. Bodyguards have to be tough, and Able ‘Crush’ Cross was one of the toughest. But the business of protection is a hard one. Forced out for not being a team player, Crush makes a living as bouncer at Los Angeles hot spots. However, Crush is pulled back into the bodyguard business when he is hired by a wealthy CEO who fears for the life of his daughter. This is an original film by Phoef Sutton (Analyze This, Boston Legal).

    In The Last Tough Guy, the protagonist Jack Cooper is one of the best stunt men in Hollywood. Unfortunately, his hard-drinking lifestyle and gruff demeanour have left him with few jobs and fewer friends. When Jack witnesses the death of his former mentor, producer Rudy Solomon, he goes to the police, who prove uncooperative.

    Reconnecting with his former flame (who happens to be Rudy’s estranged daughter), Jack decides to take matters into his own hands. As he tracks down Rudy’s killers and bring them to justice.

  • Professional video gaming set for TV debut in the U.S.

    Professional video gaming set for TV debut in the U.S.

    MUMBAI: With a view to bring professional video game playing to a wider audience, Major League Gaming (MLG) and USA Network have announced a programming deal in which USA Network will air seven one-hour episodes, featuring the pro circuit and its players.

    The episodes will air on USA Network this holiday season. MLG also announced that it has a new multiyear contract with Boost Mobile, under which that company’s mobile phones will feature content.

    Though video gaming fans have been able to follow competitions on game web sites, MLG’s television deal marks the first time that TV viewers would be able to track the ups and downs of a pro tournament, watching video gaming as a new kind of extreme sport.

    MLG’s president and chief operating officer Matthew Bromberg said, “This is the sign that pro gaming has finally arrived to the mass market. It’s like poker was two years ago, or Nascar 15 years ago.”

    The upcoming televised series will aim to engage viewers with not only with the game play itself – featuring top players of “Halo 2” on Xbox and “Super Smash Bros. Melee” on Nintendo – but also sports-like commentary and profiles of the players.

    Among them: Bonnie Burton, also known as “Xena,” a 15-year-old from Pennsylvania who is the only female in the pro league and one of the best “Halo2” players in the world; and Tom Taylor, who’s known as “Tsquared,” an 18-year-old from Florida and budding entrepreneur whose Gaming-Lessons business has already helped hone the video-gaming skills of numerous celebrities and star athletes.

    “I’m excited to compete on TV in front of an audience. This will take video gaming to the next level. It is an extreme sport. It’s about quick reflexes and also outsmarting people.” Taylor said in a media report.

    MLG’s chief executive and co-founder Michael Sepso said, “Some top players earn winnings in the range of a couple hundred thousand dollars a year, and the tournaments by MLG usually draw thousands of spectators at its arena venues and thousands more online. But, going before a mainstream television audience could raise video gaming’s visibility, leading to more sponsorships and advertising.”

    And drawing viewers shouldn’t be a stretch, since “video gaming has always had a spectator-element to it anyway,” said Sepso.

    Bromberg explained that the MLG is following a well-tried model for forming a new pro league: Build a credible governing body, sign the best players and then strike deals with major sponsors.

    “That’s what helps the league grow and feeds the machine,” Bromberg said in a media report. “If you have those pieces, then you can have a major sport.”

    MLG operates a seven-city pro circuit, which begins next week in New York and ends with a championship in Las Vegas in November. More than 1,500 players will compete for the championship in two games: “Halo 2” and “Super Smash Bros. Melee World.”