Comcast is spinning out , Fandango and a bunch of NBCUniversal (NBCU) cable networks right into a separate firm. Meaning USA Community, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel will quickly have a brand new dwelling. Comcast is hanging onto different NBCU operations, particularly NBC, , movie and TV studios, Telemundo and theme parks. Bravo can be sticking round to assist preserve feeding Peacock’s ever-hungry actuality TV maw.
Comcast says the brand new entity can be a “tax-free spin-off” and the step is “anticipated to be accretive to income progress at Comcast and roughly impartial to Comcast’s leverage place.” In different phrases, it is to do with cash — and maybe laying the groundwork for additional consolidation between main media firms. The spun-out properties pulled in round $7 billion between them during the last 12 months or so, whereas their future mum or dad will nonetheless have a partnership with NBCU. Comcast is aiming to finish the transition inside the subsequent 12 months.
In its press release, Comcast calls the spin-off firm “SpinCo,” which is a placeholder and certainly will not be the enterprise’ precise identify. In spite of everything, having “SpinCo” as their mum or dad firm’s moniker would not precisely be nice optics for CNBC and MSNBC journalists.
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