It seems these are two separate actions they're talking about. One is spinning off the cable networks they own like CNBC, MSNBC, USA, etc. and making a separate company for that (probably because cable is dying and they want to shed the dead weight).

The second item is to find another company to work with in offsetting some of the losses they've incurred from running Peacock, which they want to keep as part of the main company (despite its apparent shortcomings).