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Comcast Plans $7 Billion Spinoff of Cable Networks to Boost Streaming

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Source: Los Angeles Times
Comcast Plans $7 Billion Spinoff of Cable Networks to Boost Streaming
Photo: Los Angeles Times
TL;DR

Comcast Corp. plans to spin off its cable channels, including MSNBC and CNBC, into a new $7-billion company as it restructures NBCUniversal. This move comes amid declining cable TV value due to the rise of streaming services. The new company will exclude Bravo, which remains with NBCUniversal due to its strong performance on Peacock. Mark Lazarus will lead the new entity, while Donna Langley and Matt Strauss will take on expanded roles within NBCUniversal. The spinoff aims to adapt to the changing media landscape and enhance shareholder value.

Topics:top-newsbusiness#business#cable-channels#comcast#nbcuniversal#spinoff#streaming
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  1. Comcast to spin off MSNBC, CNBC and cable channels  Los Angeles Times
  2. Exclusive | Comcast Greenlights $7 Billion Spinoff of NBCUniversal Cable Channels  The Wall Street Journal
  3. Comcast set to spin off cable TV networks to drive streaming growth  Financial Times
  4. Comcast to announce spinoff of cable networks including MSNBC and USA, sources say  NBC News
  5. Comcast To Spin Off Cable Channels Under Mark Lazarus, NBC & Bravo Stay Put  Deadline

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