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

Comcast Corp. is working with investment bank Morgan Stanley to evaluate options for its cable networks, according to people familiar with the matter, after announcing this week it’s considering divesting the business.

Comcast is contemplating the prospect of spinning off its cable networks into its own, standalone company, writes Ryan Mulligan for the Philadelphia Business Journal. The Philadelphia media and technology conglomerate is also open to partnerships with its streaming platform,