Comcast says its cable spinoff sets up declining networks for a rebound — and potential acquisitions. But SpinCo could also be an M&A target.

The bull case for Comcast in its new form is equally compelling, in my opinion. Splitting off the cable stuff will give it a chance to grow. MSNBC and CNBC are still pretty profitable, and the new company, SpinCo, can use these profits to gain market share.

Comcast is spinning off into a new company many of its cable television networks that were once at the heart of the entertainment giant, as consumers increasingly swap out their cable TV subscriptions