After a few bumpy outings due to Covid and less-than-optimal host cities, the Olympics flourished last summer in Paris, with viewership gains and advertising records. With more happy returns expected from the 2026 Winter Games in Italy and the 2028 Summer Games in Los Angeles, NBCUniversal may need to develop some new muscles in order to maintain the synergistic mojo. Next year, parent company Comcast plans to spin off NBCU’s cable networks into a separate, publicly traded entity. The transaction, formally ...

Comcast shares posted modest gains Wednesday after the company announced its plan to spin off all of NBCUniversal's cable networks — except Bravo — into a separately publicly traded entity.Investors' initial shrug at the proposed transaction underscores the uncertainty of the maneuver.The hope for Comcast is that by shedding declining assets, the company's shares will rise. Cable networks are still profitable, but they're hemorrhaging subscribers and revenue every year as Americans cancel traditional pay TV ...

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(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 ...