TV networks MSNBC and CNBC to be spun off by Comcast
US media giant Comcast is set to spin off its NBCUniversal cable television arm, as the industry continues to struggle with the emergence of streaming giants like Netflix and Amazon Prime. The plan, formally announced on Wednesday, is to create a new company that will include channels such as MSNBC, CNBC, USA, E!, Syfy and the Golf Channel. The networks are still profitable and generated a combined revenue of $7bn in the year to the end of September. Comcast will keep the NBC broadcast television network, its film and television studios and its theme parks, as well as its Peacock streaming service. Comcast said the aim was to complete the plan in about a year. The expectation is that Comcast will be better placed for growth after the split from the cable networks, which have seen audiences decline. Executives also said they believed the new company would be well-poised to buy other cable TV networks that could potentially go up for sale in the future. The new firm will have the chairman of NBCUniversal's media…
20 Nov 00:00 · Inlandnewstoday