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 ...

Putting Donna Langley firmly in the corporate driver’s seat, Comcast boss Brian Roberts has also decided it’s time for NBCUniversal to shed some cable channel weight. Tomorrow, Comcast is set to reveal its long term plan to carve off cable channels MSNBC, CNBC, E!, Syfy, Golf Channel, Oxygen and USA into a new and separate company. The as-yet-unnamed venture will be run by current NBCU Media Group boss Mark Lazarus as CEO. NBCU CFO Anand Kini is on board as a supersized CFO and COO for the new company. S ...

The Comcast NBC logo is shown on a building in Los Angeles, California, June 13, 2018.Comcast is moving forward the spinoff of its cable network channels, a source familiar with the matter told CNBC's Julia Boorstin on Tuesday.The separation is expected to take about a year, and an announcement from the company could come as early as Wednesday, the person said. The company had announced during its quarterly earnings in October it was considering a split of the cable networks.The spinoff was first reported b ...

Comcast’s (CMCSA) shares have lost 0.8% year to date against the Zacks Consumer Discretionary sector’s growth of 10.9%. The stock has also underperformed the Zacks Cable Television industry and its peers like Naspers (NPSNY) , WideOpenWest (WOW) , and Charter Communications (CHTR) .In the same time frame, shares of NPSNY, WOW and CHTR have gained 33.8%, 33.3% and 1.5%, respectively, against the industry’s decline of 0.5%. This underperformance of CMCSA’s shares can be attributed to sluggish growth in Reside ...