Official announcements or company filings

Comcast to Spin Off MSNBC, CNBC, Other Cable Networks into $7 Billion Entity

Nov 20, 2024, 12:11 AM

Comcast is planning to spin off its NBCUniversal cable television networks into a separate, publicly traded entity valued at $7 billion. The channels involved include MSNBC, CNBC, USA Network, Oxygen, E!, Syfy, and Golf Channel, which collectively generate about $7 billion in revenue. Mark Lazarus, currently the chairman of NBC Sports, is expected to lead the new company. The announcement is expected on Wednesday. Bravo will remain under NBCUniversal, along with NBC and its streaming service Peacock, due to their strategic importance. This move reflects Comcast's response to the growing impact of streaming services on traditional cable networks.