Comcast is spinning off its cable TV business
by Jess Weatherbed from The Verge - All Posts on (#6SBYB)
Photo by Jeff Fusco/Getty Images for Comcast Comcast is splitting from its NBCUniversal television arm as the market of cable TV customers shrinks in the age of cord-cutting and TikTok.
The US media giant announced plans on Wednesday to spin off the bulk of its cable network channels - including CNBC, MSNBC, Universal Kids, USA Network, E!, Oxygen, Golf Channel, and Syfy - into a separate company. Comcast will retain its reality TV darling Bravo and the Peacock streaming service within its NBC TV business.
The new, currently untitled venture (dubbed SpinCo" as a placeholder) will be led by NBCUniversal chairman Mark Lazarus, with NBCUniversal's CFO Anand Kini serving as both its financial and operating head. Non-cable services including Fandango, Rotten Tomatoes, GolfNow, and...