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Comcast seeks to cut $1 billion from its TV networks budget

Yahoo Finance Live anchors discuss Comcast slashing its TV budget.

Video Transcript

[AUDIO LOGO]

SEANA SMITH: All right, well, my play today is Comcast. Bloomberg reporting that it's looking to cut as much as a billion dollars from its TV networks budget. This is for Comcast. And then use that to boost other parts of its business. Executives are reportedly looking at a number of ways to cut costs, including layoffs and prioritizing low-cost shows.

This follows a "Wall Street Journal" report that NBC's considering cutting back programming hours in prime time. And that would possibly include giving up its 10:00 PM hour and giving that to local station partners. Pras, I guess this could make sense. Maybe if they are looking for ways to cut here, maybe spend potentially.

There are some thoughts there in the Bloomberg report that maybe they'd reallocate the spending part of it. at least, to Peacock. We know the emphasis has been on streaming. Certainly, we have seen so much change in this space, even just over the last couple of weeks.

PRAS SUBRAMANIAN: You know, you see a lot of these big media companies shifting right from broadcast to digital. Warner Brothers Discovery, same thing. They even want to cut programming to go more with like, you know, cheaper, reality-based shows. And you know, Warner Brothers Discovery, like you know, HBO Max is killing it, right, with the new "Game of Thrones" stuff. And you know, I was a big fan of "Fboy Island," too. Don't get me started on that. But you know, anyway, a lot of uncertainty in the media business.