Comcast's Broadband business explained

For several years now, the Comcast argument has been, "We're not really a cable TV company anymore. In fact, we don't actually care if you buy cable TV from us. We're happy to sell it to you, but all we want is for you to buy our broadband." That is an awesome business. It is super high margin. "We have," they won't ever use these words, "either a monopoly or a duopoly in almost every market we're in." If you want the internet, you're getting it from us, and after that, we don't care what you do. And that looked like an awesome business, and there was a point in which they formally crossed over and had more broadband subscribers than they had video subscribers, and that was a big moment. Comcast is not a cable TV company anymore. And so if you look at where they are today, you've seen them shedding media. Their other problem, though, is that the broadband business is not as good as it used to be because there actually is competition now. There is fixed wireless from T-Mobile and Verizon. It went from being sort of a fringe idea to "it's real competition now." Now their broadband numbers, which used to go up and up and up every year, are now flat or sometimes down because they are facing real competition. So that's a problem for them. They are trying to sort of engineer their way out of that. But one thing they're doing on top of that is saying, "I guess we should be in another business? Okay, why don't we sell wireless? If the wireless guys are gonna sell broadband, we can sell wireless." So they are now building up a wireless business, and there's no obvious synergy there other than, "If you're gonna buy internet from us, maybe you'll buy a phone connection as well." It is not a clear-cut sort of business as it used to be even, like, five years ago.