Comcast to Spin Off CNBC and MSNBC in $7 Billion Deal

Comcast plans to spin off its NBCUniversal cable TV networks, including CNBC and MSNBC, into a new company amid the rise of streaming services like Netflix. The new entity, expected to be completed in a year, will include channels such as USA, E!, Syfy, and the Golf Channel, which collectively generated $7 billion in revenue last year. Comcast will retain its NBC broadcast network, film and TV studios, theme parks, and Peacock streaming service. This move aims to position Comcast for growth and potential acquisitions in the cable TV sector.