Comcast is set to announce a groundbreaking $7 billion spin-off of its NBCUniversal cable TV networks, marking a pivotal shift in its growth strategy amid the changing media landscape, The Wall Street Journal reported.
Comcast Corp. is moving forward with plans to spin off its NBCUniversal cable TV networks, a move aimed at restructuring its portfolio to adapt to the evolving media environment. The $7 billion venture, expected to be tax-free, will house a range of entertainment and news channels, including MSNBC, CNBC, USA, Oxygen, E!, Syfy, and the Golf Channel.
The announcement, slated for Wednesday, reflects Comcast’s strategy to refocus its resources on broadcast TV, streaming, sports, and other high-growth areas. Although cable networks generate steady profits, cord-cutting trends have significantly impacted subscriber bases and viewership, diminishing their once-dominant status.
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