Reported 1 day ago
Comcast Corp. plans to spin off its cable-TV channels, including MSNBC, CNBC, and USA, in response to declining viewership and advertising revenue. The move will create a new company while retaining NBC and Peacock within Comcast. The spinoff, which reportedly generates about $7 billion annually, will be led by current NBCUniversal media group chairman Mark Lazarus as the new CEO. Comcast aims to explore opportunities for acquisition in the evolving media landscape.
Source: YAHOO