Comcast president (and soon-to-be co-CEO) Mike Cavanagh says that his company “did not expect that we had a high likelihood of prevailing” in its bid for Warner Bros. but that “I think we’re better for having taken a look” at the company.

Cavanagh made the comments at a UBS conference in New York Monday morning.

“It’s our job, so we thought better to take a look and do the work and see where it leads … and so that’s what we did,” Cavanagh said, confirming that Comcast proposed a deal to spin out NBCUniversal into a publicly traded company that would merge with Warner Bros.

Comcast president (and soon-to-be co-CEO) Mike Cavanagh says that his company “did not expect that we had a high likelihood of prevailing” in its bid for Warner Bros. but that “I think we’re better for having ta

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