Comcast To Spin Off NBCUniversal Cable Channels
CMCSAComcast(CMCSA) Investopedia·2024-11-20 23:10

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 ...