Comcast to Spin Off Cable Networks Including MSNBC and CNBC

Comcast plans to spin off its cable networks, including MSNBC, CNBC, and USA, into a separate company, as it adapts to the shift from traditional pay TV to streaming. The new entity will be owned by Comcast shareholders and led by Mark Lazarus. NBC and Peacock will remain with Comcast, which is focusing on growing its streaming service. The spinoff is expected to take about a year, with Comcast's CEO Brian Roberts having a voting position in the new company.