Comcast to Spin Off Cable Channels MSNBC, USA
- Channels brought in $7 billion in revenue in past 12 months
- Cable-TV has suffered from cord cutting and rise of Netflix
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Comcast Corp. plans to spin off cable-TV channels including MSNBC, CNBC and USA, following through on plans first announced last month.
The NBC broadcast network and Peacock streaming TV business will remain with the parent company, the Philadelphia-based cable provider said in a statement Wednesday. So will Bravo, a cable channel with reality TV shows that are popular on streaming. The new publicly traded company will include digital assets such as Fandango and Rotten Tomatoes through a tax-free spin-off, Comcast said.