Comcast Plans $7 Billion Spinoff of Cable Networks to Boost Streaming
TL;DR Summary
Comcast Corp. plans to spin off its cable channels, including MSNBC and CNBC, into a new $7-billion company as it restructures NBCUniversal. This move comes amid declining cable TV value due to the rise of streaming services. The new company will exclude Bravo, which remains with NBCUniversal due to its strong performance on Peacock. Mark Lazarus will lead the new entity, while Donna Langley and Matt Strauss will take on expanded roles within NBCUniversal. The spinoff aims to adapt to the changing media landscape and enhance shareholder value.
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- Comcast set to spin off cable TV networks to drive streaming growth Financial Times
- Comcast to announce spinoff of cable networks including MSNBC and USA, sources say NBC News
- Comcast To Spin Off Cable Channels Under Mark Lazarus, NBC & Bravo Stay Put Deadline
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