Jan 23 (Reuters) - Comcast ( CMCSA ) announced on

Thursday the launch of Sports & News TV, a new video package for

its Xfinity internet customers, as part of its strategy to

remain competitive in the streaming era.

The move comes as customers increasingly shift from

cable networks to streaming services, disrupting a

once-profitable legacy business.

Comcast ( CMCSA ), owner of Universal Studios and NBC, lagged

behind other media stocks in 2023, with shares dropping 14.7%.

Only Paramount Global ( PARAA ) fared worse, losing 30% of its

value.

In November, Comcast ( CMCSA ) revealed plans to spin off most of its

NBCUniversal cable TV networks, including MSNBC and CNBC, into

an independent publicly traded media company called SpinCo.

The Sports & News TV package includes all major local

broadcast channels-ABC, CBS, FOX, NBC, Telemundo, and

Univision-as well as major news channels like CNBC, CNN, FOX

News, and MSNBC.

The $70-a-month package will also give subscribers access to

live sports events such as NFL football, Premier League soccer,

WWE and NBA basketball.