Minutes after Paramount launched a hostile bid to wrestle control of Warner Bros. Discovery away from streaming giant Netflix, the third party rowing in the race appeared to keep going in its own lane. Comcast President Mike Cavanagh, speaking onstage at the UBS Global Media and Communications Conference on Monday, alluded to his past as a college athlete: “I think being focused as a former rower, eyes in our own boat, and get the job done is going to be what the next couple of years give us an opportunity to do.”
Cavanagh, who is due to become Comcast’s co-CEO soon, said the company put its offer for WBD together from a commitment not to “stress the Comcast balance sheet to any stressful level.” He added Comcast has debated internally whether to engage at all, questioning the potential disruption or distraction. Ultimately, they decided it was their job to explore the opportunity.
