Comcast brought in the bank to help review options as speculation about cable industry consolidation increased in the past several months, one of the people said. (Disclosure: Comcast is the owner of NBCUniversal, the parent company of CNBC and CNBC.com.)
The people asked not to be identified by name because the matter is not public. Representatives for Comcast and JPMorgan declined to comment.
(Read more: Binge TV show viewers, Comcast is targeting you)
Time Warner Cable, which has been pursued by much smaller rival Charter Communications, has said it was open to consolidation if it would make money for shareholders.
Cable billionaire John Malone has approached Time Warner Cable about a full takeover through an investment in Charter Communications but has been rebuffed so far, sources have told Reuters.
Malone has also been talking up the need for consolidation in the cable industry whenever he gets a chance. Time Warner Cable management has rejected his overtures because they viewed a deal as not benefiting shareholders.