Comcast on Thursday Sports & News TVis a new video package for Xfinity Internet customers as part of its strategy to remain competitive in the streaming era.
The move comes as customers increasingly migrate from cable networks to streaming services, disrupting once-profitable legacy businesses.
Comcast, which owns Universal Studios and NBC, lagged other media stocks in 2023, with its stock price down 14.7%.
Only Paramount Global fared worse, losing 30% of its value.
In November, Comcast announced plans to spin off most of its NBCUniversal cable TV network, including MSNBC and CNBC, into SpinCo, an independent, publicly traded media company.
The Sports & News TV package includes all major local broadcast channels such as ABC, CBS, FOX, NBC, Telemundo, and Univision, as well as major news channels such as CNBC, CNN, FOX News, and MSNBC.
The $70 per month package also gives subscribers access to live sporting events such as NFL football, Premier League Soccer, WWE, NBA basketball, and more.
