Before NBCU Considered Spinning Off Cable Networks, It Shut Many Down
variety.comBrian Steinberg Senior TV Editor Unlike its rivals, NBCUniversal long ago developed a healthy fear of zombies. Not the shambling, undead kind that lurch around trying to eat brains, but rather the media variety: “Undead” cable networks that long ago gave up all hopes of cultivating audiences around the clock and instead run only a few hours of original programming, coupled with seemingly endless repeats of TV favorites, like “Ridiculousness” (MTV); “Fear Factor” (HLN); or “Seinfeld” (Comedy Central).
Paramount Global and Warner Bros. Discovery, two of the bigger owners of these cable-network wraiths, haven’t had much to show for keeping them up and running.
Indeed, Warner in August unveiled a massive $9.1 billion write-down of its TV assets, citing business headwinds as well as the projected loss of its lucrative agreement with the NBA to show games on its cable networks.
Paramount Global followed suit, revealing a $5.98 billion impairment charge as it prepared for its acquisition by Skydance Media.
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