Investing.com– Comcast Corp (NASDAQ:) is anticipated to announce on Wednesday that it’s going to proceed with a plan to spin off its NBCUniversal cable tv networks, The Wall Avenue Journal reported, after the corporate floated the concept final month.
The corporate will spin off its community tv unit, which incorporates leisure and information channels together with MSNBC, CNBC, E!, Syfy and Oxygen, the WSJ reported on Tuesday night, citing individuals accustomed to the matter.
The report comes after Comcast had final month raised the potential for spinning off its cable networks, because it navigates a broader shift away from conventional tv and into streaming. WSJ stated the belongings generated income of about $7 billion within the 12 months to September 30.
The spin-off is anticipated to take a 12 months to finish, the WSJ report stated, and can be led by Mark Lazarus, who’s presently the chairman of NBCUniversal’s media group. The spin-off’s possession construction will mirror that of Comcast.
Comcast had taken over NBCUniversal in 2011, when its cable networks have been flush with power within the U.S. cable market. However this development has steadily reversed within the final decade, particularly as the appearance of streaming spurred a shift in shoppers away from cable.
