Comcast to Spin Off MSNBC, CNBC, Other Cable Networks in $7 Billion Deal

Nov 19, 2024, 11:33 PM

Comcast is moving forward with a plan to spin off its NBCUniversal cable TV networks, including MSNBC, CNBC, USA, Oxygen, E!, Syfy, and Golf Channel, into a separate company valued at $7 billion. The announcement is expected on Wednesday, according to sources. Mark Lazarus is expected to be named CEO of the new entity. Existing Comcast shareholders will own the spun-off company, which may attract potential investors or buyers over time. Comcast, which once regarded its cable group as a crown jewel, is acknowledging it will be better off without this business by separating nearly all of these networks from its core operations, which include NBC and its theme parks. Bravo will remain with NBCUniversal.