• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Comcast approves $7 bln spinoff of NBCUniversal cable channels- WSJ

by November 20, 2024
written by November 20, 2024

Investing.com– Comcast Corp (NASDAQ:CMCSA) is expected to announce on Wednesday that it will proceed with a plan to spin off its NBCUniversal cable television networks, The Wall Street Journal reported, after the company floated the idea last month.

The company will spin off its network television unit, which includes entertainment and news channels including MSNBC, CNBC, E!, Syfy and Oxygen, the WSJ reported on Tuesday evening, citing people familiar with the matter.

The report comes after Comcast had last month raised the possibility of spinning off its cable networks, as it navigates a broader shift away from traditional television and into streaming. WSJ said the assets generated revenue of about $7 billion in the year to September 30. 

The spin-off is expected to take a year to complete, the WSJ report said, and will be led by Mark Lazarus, who is currently the chairman of NBCUniversal’s media group. The spin-off’s ownership structure will mirror that of Comcast. 

Comcast had taken over NBCUniversal in 2011, when its cable networks were flush with strength in the U.S. cable market. But this trend has steadily reversed in the last decade, especially as the advent of streaming spurred a shift in consumers away from cable.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Grid operator PJM faces new complaint over power supply auction
next post
Airbus CEO says Spirit Aero talks going well but industrial challenges lie ahead

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Morning Bid: Japan holds, Bank of England up next
    • How exceptional is US exceptionalism?

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy