Comcast is considering spinning off NBCUniversal's portfolio of cable networks into a new publicly traded company, president Mike Cavanagh said.

Comcast is contemplating the prospect of spinning off its cable networks into its own, standalone company, writes Ryan Mulligan for the Philadelphia Business

On its third-quarter earnings call with Wall Street analysts, Comcast said it is exploring creating a new stand-alone entity to house its cable networks.

The company’s president, Mike Cavanagh, said the company was also considering finding a partner for its Peacock streaming service.

Comcast will explore spinning off its cable networks. It’s the opening step in restructuring of one of the world’s largest media companies.