(Photo by Gary Hershorn/Getty Images)Getty ImagesWeeks after floating a huge trial balloon, Comcast followed through this morning, announcing plans to spin off most of its linear cable networks into a separate company, including such stalwarts as CNBC, MSNBC, USA Network and SyFy.It’s the first tangible action among media executives who exulted in the days after the election about a more relaxed regulatory and M&A regime under the imminent Trump Administration. More importantly, the Comcast announcement lik ...

Comcast (CMCSA) announced Wednesday that it will spin off select cable television networks, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. The spinoff includes some of CMCSA's digital assets, including Fandango, Rotten Tomatoes, GolfNow and SportsEngine. It will create a new publicly traded company called SpinCo."When you look at our assets, talented management team and balance sheet strength, we are able to set these businesses up for future growth," said Comcast CEO Brian Rober ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: The symbol for Comcast appears on a screen at the Nasdaq MarketSite, on Oct. 1, 2019 in New York. Credit: AP Photo/Richard Drew, File Comcast will spin off many of its cable television networks that were once at the heart of the entertainment giant, with people increasingly swapping out their cable TV subscriptions for streaming ...

Cable television has long been viewed as a stagnant business, showing little promise for growth over the years. However, Comcast believes it has found a new growth opportunity.On Wednesday, the company announced that it’s spinning off NBCUniversal’s cable television networks — such as CNBC, E!, Golf Channel, MSNBC, Oxygen, SYFY, and USA Network — into a separate publicly traded company. It’s also including digital assets like GolfNow, Fandango, Rotten Tomatoes, and Sports Engine. This bold spin-off strate ...

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KEY TAKEAWAYSComcast said Wednesday that it is planning to spin off its NBCUniversal cable TV networks, including channels like MSNBC, CNBC, and E!, carving out a business that has been hurt by cord cutting and the rise of streaming.The cable assets together generated about $7 billion in revenue in the 12 months ended Sept. 30, Comcast said.Mark Lazarus, current chair of NBCUniversal Media Group, was named CEO of the new company. Comcast (CMCSA) said Wednesday that it is planning to spin off its NBCUniversa ...

Advertisement Cable networks used to be incredibly valuable. But in the streaming and cord-cutting era, they are in decline.That's why Comcast is ditching almost all of its cable networks into a new, stand-alone company.It would like to convince other cable TV owners to join in.One of the country's biggest cable TV companies doesn't want its cable networks anymore. Would you like them?That's the pitch Comcast is making Wednesday as it announces plans to split off almost all of its cable TV networks into a ...

Comcast is moving forward with plans to spin off its NBCUniversal cable television networks including MSNBC and CNBC, sources say, shedding a once core part of the business that has been a casualty of the streaming video revolution.The company last month told investors it was evaluating hiving off its cable networks into a separate company owned by Comcast’s shareholders.“We think there could be an opportunity to play some offense,” said Comcast President Michael Cavanagh said during the company’s third-qua ...

Key TakeawaysComcast shares gained in extended trading Tuesday following a report the company is expected to announce plans Wednesday to spin off its NBCUniversal cable TV networks. The spinoff could mean the separation of assets that generated about $7 billion in revenue in the 12 months ended Sept. 30, the Wall Street Journal reported.The move could help streamline the entertainment and media conglomerate’s operations. Comcast (CMCSA) shares gained in extended trading Tuesday following a report the entert ...

Advertisement Comcast plans to spin off some NBCUniversal cable channels. The planned spinoff includes MSNBC, CNBC, E!, and Oxygen, among others.NBC, Bravo, and the streaming service Peacock would not be spun off under the plan.Comcast is planning to break off some of its cable television channels. The plan to spin off some NBCUniversal channels includes MSNBC, CNBC, USA, Oxygen, E!, Syfy, and the Golf Channel, while NBC, Bravo, and the streaming service Peacock would remain under NBCUniversal, a source cl ...