Comcast Corporation (NASDAQ:CMCSA, ETR:CTP2) is moving forward with plans to spin off its cable network channels, including CNBC, MSNBC, and E!, according to the Wall Street Journal citing sources familiar with the matter.
The move, expected to take about a year, will reportedly create a separate entity led by NBCUniversal Media Chairman Mark Lazarus, with Anand Kini as chief financial officer.
The spinoff will allow the new company to explore mergers or sales while retaining ties to Comcast through a shared voting structure, the WSJ said.
Networks like Bravo, closely linked to streaming platform Peacock, will remain under Comcast’s NBCUniversal.
As traditional TV networks face challenges from cord-cutting, Comcast continues to invest in Peacock and its broadcast properties. Analysts see the move as a response to shifting viewer habits and evolving media consumption trends.