Viacom, Comcast Said to Weigh Cable Venture

Media conglomerate Viacom Inc. and Comcast Corp., the nation’s largest cable company, are in talks to form a joint venture that would create several new cable networks, a source familiar with the matter said.

Neither Comcast nor Viacom would comment.

Comcast and Viacom’s MTV Networks would co-own the business, which would include lifestyle channels as well as digital media products such as video on demand and electronic commerce, the New York Post reported, citing a source close to Comcast.

The venture, which would be led by John Sykes, former head of Viacom’s Infinity Broadcasting radio division, is expected to be announced within weeks, the report said.