Comcast Corp to Spin off NBCUniversal Cable Networks

Investing.com– Comcast Corp (NASDAQ:CMCSA) is expected to announce on Wednesday its plan to spin off its NBCUniversal cable television networks, as reported by The Wall Street Journal. This consideration was initially proposed last month.

The spin-off will include Comcast's network television unit, comprising entertainment and news channels such as MSNBC, CNBC, E!, Syfy, and Oxygen, according to sources cited by WSJ on Tuesday evening.

This report follows Comcast's previous indication of spinning off its cable networks amid a broader industry shift from traditional television to streaming. The assets in question reportedly generated around $7 billion in revenue over the year ending September 30.

The spin-off process is projected to take a year, with Mark Lazarus, chairman of NBCUniversal's media group, leading the effort. The ownership structure of the spin-off will align with that of Comcast.

Comcast acquired NBCUniversal in 2011 when its cable networks were performing strongly in the U.S. cable market. However, this trend has significantly declined over the past decade, particularly due to streaming services attracting consumers away from cable.