The $7 billion spinoff comes as traditional media companies grapple with the diminishing value of what was once an economic pillar of the entertainment business.

Comcast, the parent company of NBCUniversal, will announce the spinoff of many of its cable TV channels, including MSNBC, on Wednesday, according to multiple news reports, carryin

Comcast would retain NBCUniversal's NBC broadcast television network, its film and television studios and its theme parks, as well as its Peacock streaming service.

TV channels including MSNBC, CNBC and USA, according a person a familiar with the company’s plans, reducing its exposure to a business that’s losing viewers and advertisers. Comcast’s NBC broadcast network and Peacock streaming TV business will remain with the parent company,

The split would cleave off some of NBCUniversal’s best-known brands, which face the same cord-cutting challenges as many other major cable channels.

USA, Oxygen and other channels will break out into a standalone, publicly traded company The post Comcast to Spin Off Cable Networks Including MSNBC and E! as Linear Continues Decline appeared first on TheWrap.

Comcast is spinning off many of NBCUniversal’s cable television networks, including USA Network, CNBC and MSNBC, into a separate public company.

Comcast CEO Brian Roberts doesn't want his cable TV networks like CNBC, MSNBC and USA anymore. It's essentially a garage sale as people cut the cord.

The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain as part of NBCUniversal the NBC broadcast network, including NBC News; NBC Sports; the streaming service Peacock; and the cable channel Bravo.

The new publicly traded company is set to debut next year, with a bundle of channels that also includes Oxygen, E! and Syfy.