Comcast announced on November 20th local time that it will advance its plan to spin off the NBCUniversal cable channel, acknowledging that the company would be better off without this once flagship business.
According to the plan, Comcast will spin off entertainment and news channels such as MSNBC, CNBC, Syfy, and Golf Channel. In the 12 months ending September 30th, these assets generated approximately $7 billion in revenue. The Bravo channel, known for reality shows such as "Real Housewives," will stay at Comcast along with Peacock streaming service and NBC radio channel.
Mark Lazarus, currently serving as the Chairman of NBCUniversal Media Group and responsible for television and streaming platforms, will be appointed as the new CEO of the company. Anand Kini, who previously served as the Chief Financial Officer of NBCUniversal, will assume the roles of Chief Financial Officer and Operations Director for the new company.