Reported about 20 hours ago
Comcast plans to spin off many of its NBCUniversal cable networks, including USA Network and CNBC, into a separate public company, responding to the growing preference for streaming services over traditional cable. This strategic move was hinted at during their recent earnings report. Mark Lazarus will lead the new entity, as Comcast continues to focus on boosting its streaming services, such as Peacock, which saw a significant increase in subscribers and revenue. The spin-off is expected to take about a year to complete, pending necessary approvals.
Source: YAHOO