Comcast announces plan to spin off cable channels, including MSNBC, CNBC and USA

[BumRushDaShow]

Source: NBC News

Nov. 20, 2024, 8:11 AM EST / Updated Nov. 20, 2024, 9:41 AM EST


Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel.

Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service Peacock and the cable channel Bravo.

“The transaction will be structured as a tax-free spin to existing shareholders,” Comcast President Mike Cavanagh said in an internal memo. “While we don’t have a precise timetable for completing the transition, we are estimating that it will take approximately a year.” Comcast owns NBCUniversal, the parent company of NBC News.

The move comes as the traditional cable television bundle faces stiff economic headwinds, most notably the rise of cord-cutting and the shift to streaming alternatives. Comcast’s cable portfolio still contributes to its financial bottom line and helps expand its cultural footprint.

Read more: https://www.nbcnews.com/business/business-news/comcast-announces-plan-spin-cable-channels-msnbc-cnbc-usa-rcna180928

[Prairie Gates]

1. HOW IS THIS GOING TO AFFECT PREMIER LEAGUE MORNINGS?????

[question everything]

2. Does this mean that I will have to pay extra for MSNBC and CNBC?

Truth to be told we kinda stopped watching MSNBC..

[kimbutgar]

4. So did we!

I also have it on my SiriusXM radio and want to delete it in my car but I have to figure out how to do it!

[Mr.Bee]

6. Cut. The. Cord.

You'll have no idea how enjoyable TV is when you're not paying to watch it!
If ever there is anything important or interesting on any of corporate TV,
It'll be posted on the internet.
Cut the cord and live free!

[question everything]

9. I wish I knew how to do this

We don't watch much. We watch network and local news and CNN in between.

Most of the programs are really the BritBox and others on PBS.

Occasions on HBO if there is something interesting. Surveilled tonight about commercial spyware.

Started CBS Matlock.. Strange to see all the commercials.

TCM if there are interesting movies.

Same with print newspapers. I like to have the paper in hand but many just read them online.

And there are the two of us so both can watch TV, the debates; the sad return of the voters.. instead of each of us with own screen..

Maybe, someday.

[thesquanderer]

3. re: "the new company will be led by Mark Lazarus"

Lazarus? Perfect, since his job will be to bring some life back to the dead. (Cable TV channels.)

[Mawspam2]

5. Why keep Bravo?

Breaking up the news unit seems stupid. How about Comcast keep Joe and Mika and cut loose the rest of MSNBC? Maybe then MSNBC could ditch Cesar Conde and get new leadership and avoid the disasters of Megyn Kelly and Ronna Romney McDaniel.

[BumRushDaShow]

10. IIRC

Bravo used to do a lot of biographical documentaries. Haven't looked at it in a long time so don't know what they are showing now.

[LPBBEAR]

7. Take a wild guess

as to which richest man in the world will be waiting in the wings to buy them?

C'mon....I know you can figure it out.

[onenote]

11. That's not how spin offs work. You should read the article.

The assets being spun off are not being sold to a third party. You should read the article. It says quite clearly that “The transaction will be structured as a tax-free spin to existing shareholders." That's how these kinds of spin-offs work

[LPBBEAR]

12. Keep thinking that

and watch what happens as time goes on.

[onenote]

13. How much time? Sure, the spun off company might be sold, shuttered, or merged at some point.

The spin off doesn't make it any more or less possible or imminent.

[Rebl2]

8. Don't watch

any of those listed.