Official announcements from MSNBC, CNBC, or Comcast

Comcast to Spin Off NBCUniversal Cable Networks Including MSNBC and CNBC, Valued at $7 Billion

Nov 19, 2024, 11:18 PM

Comcast is set to announce a significant restructuring of its NBCUniversal division, moving forward with a plan to spin off its cable TV networks, which include prominent channels such as MSNBC, CNBC, USA, Oxygen, E!, Syfy, and Golf Channel. This decision marks a shift in strategy for Comcast, which previously viewed its cable assets as a core component of its business. The spinoff is valued at approximately $7 billion and will be led by Mark Lazarus as CEO. The announcement is expected on Wednesday, November 22, 2024, as Comcast aims to extract value from its declining TV assets amid a changing media landscape.