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Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service Peacock, and the cable channel Bravo. The move comes as the traditional cable television bundle faces stiff economic headwinds, most notably the rise of cord-cutting and the shift to streaming alternatives. Matt Strauss will become chairman of the NBCUniversal Media Group.

Persons: Mike Cavanagh, ” Cavanagh, “, Cavanagh, Mark Lazarus, Anand Kini, Dan Ives, ”, ” Rich Greenfield, ” Greenfield, Cesar Conde, Conde “, ” Donna Langley, Peacock, Matt Strauss, Mark Woodbury Organizations: Comcast, USA Network, CNBC, MSNBC, SYFY, Golf Channel, NBC, NBC News, NBC Sports, Bravo, Wall Street Journal, Wedbush Securities, LightShed Partners, Wednesday, NBCUniversal, Group, Telemundo, NBCUniversal Entertainment, Studios, NBCUniversal Media, Universal, General Electric, Netflix, Amazon Prime Locations: NBCUniversal

Comcast is expected to announce a plan Wednesday to spin off its cable networks into a separate company, two people familiar with the matter told NBC News. Comcast had announced during its quarterly earnings call in October that it was considering spinning off its cable networks. Bravo will remain part of Comcast’s NBCUniversal because its content is heavily featured on Peacock, CNBC reported. Comcast Chairman and CEO Brian Roberts will have a voting position in the new entity, but he won't be on the board of directors, CNBC reported. Executive Vice President Adam Miller will become NBCUniversal’s chief operating officer, CNBC reported.

Persons: Mike Cavanagh, Peacock, Peacock's, Mark Lazarus, Anand Kini, Brian Roberts, Donna Langley, Matt Strauss, Cesar Conde, Adam Miller Organizations: Comcast, NBC News, MSNBC, Syfy, Golf, CNBC, Oxygen, Wall Street Journal, NBC, NBCUniversal, Bravo, Paris, NBCUniversal Entertainment, Studios, NBCUniversal Media Group, Group, Telemundo Locations: USA, NBCUniversal

☆ CNBC anchors and insiders worry about their futures as Comcast looks to unload the network
▼ + stars: | 2024-11-20 | by ( Lucia Moses | Madeline Berg | ) www.businessinsider.com time to read: +4 min

AdvertisementCNBC anchors projected an air of mild panic about the news that Comcast would spin off the network. The media conglomerate announced it would create a new entity for most of its cable networks. CNBC anchors turned their signature irreverent style on themselves on Wednesday, as their parent Comcast became a headline in announcing plans to spin off the business news network along with many other cable assets. Analysts — including those featured on CNBC — did not hold back on Wednesday about what the spinoff means for the cable network. AdvertisementOne question for CNBC folks is whether they will maintain the prestige and workplace benefits that came with being part of Comcast.

Persons: We're, Joe Kernan, David Faber, Kernan, Mark Lazarus, Faber, CNBC —, Rich Greenfield, Rich, Becky Quick, Julia Boorstin, NBCU, Elon, Trump Organizations: CNBC, Comcast, Real Housewives, NBC, LightShed Partners, Warner Bros, Discovery, Paramount, Starz, Business Locations: NBCU, London

☆ Comcast’s cable networks spinoff raises questions about future of the TV business
▼ + stars: | 2024-11-20 | by ( Brian Stelter | ) edition.cnn.com time to read: +5 min

On Wednesday morning, the media giant confirmed that it is spinning off most of its cable channels, including MSNBC and CNBC, into a separate publicly traded company. The new company doesn’t have a formal name yet — Comcast is simplycalling it “SpinCo” — a suitable label since employees’ heads are spinning with questions. Discovery, spin off their cable channels too? How might the cable bundle business model be impacted? “This is a very clear, direct statement by Comcast” that “they are exiting the cable network business,” Greenfield said.

Persons: Mike Cavanagh, NBCUniversal, Tom Rogers, Rogers, “ it’s, ”, ” Rogers, Rich Greenfield, ” Greenfield, ’ It’s, Mark Lazarus, Lazarus, “, Joe Kernen, Greenfield’s, Greenfield, Matt Stoller, Hugh Johnston, “ SpinCo Organizations: New, New York CNN, Comcast, MSNBC, CNBC, Walt Disney Company, Warner Bros, NBC Cable, Lightshed Partners, Paramount, USA Network, SYFY, Golf, Rotten, NBC, American Economic Liberties, Disney, ” Fox Corp Locations: New York

☆ Comcast is getting rid of most of its cable channels
▼ + stars: | 2024-11-20 | by ( Kelsey Vlamis | Lucia Moses | ) www.businessinsider.com time to read: +2 min

AdvertisementComcast plans to spin off some NBCUniversal cable channels. Comcast said it was exploring spinning off its cable networks late last month, with BI's Peter Kafka writing that the move served as yet another signal of cable TV's decline. Analysts said Comcast could increase its valuation by selling its cable networks, though they were unsure if it would actually work out, BI previously reported. Disney CEO Bob Iger in the past floated the idea of selling Disney's TV and cable channels. NBCU's various TV channels are tightly integrated, sharing back office functions and talent that would have to be untangled, for one.

Persons: Peacock, Mark Lazarus, BI's Peter Kafka, Mike Cavanagh, Michael Hodel, Morningstar, Bob Iger Organizations: Comcast, MSNBC, CNBC, NBC, Bravo, Syfy, Golf, Wall Street, Business Insider, Analysts, Disney Locations: USA

☆ Comcast's cable network spinoff may be a signal to the media industry for necessary change
▼ + stars: | 2024-11-20 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +3 min

Cable networks are still profitable, but they're hemorrhaging subscribers and revenue every year as Americans cancel traditional pay TV for streaming services. Still, Disney's cable networks, including FX and Disney Channel, are more integrated with its streaming platforms than NBCUniversal's cable networks are with Peacock, the company's subscription streaming service. That may ultimately be where cable networks are heading — to private ownership willing to harvest them for cash. Another possible path for the spinoff is as a rollup entity for other cable networks. Discovery's debt and its cable networks.

Persons: It's, Peacock, Mark Lazarus Organizations: Comcast, Investors, Cable, Disney, FX, Disney Channel, SpinCo's, CNBC, MSNBC, Warner Bros, Paramount Global Locations: Peacock

Comcast is moving forward with the spinoff of its cable network channels, a person familiar with the matter told CNBC's Julia Boorstin on Tuesday. The separation is expected to take about a year, and an announcement from the company could come as early as Wednesday, the person said. The company had announced during its quarterly earnings in October it was considering a split of the cable networks. Other networks apart of the spinoff include E!, Syfy, Golf Channel, USA and Oxygen, a person close to the matter said. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.

Persons: CNBC's Julia Boorstin, Bravo, Mark Lazarus Organizations: Comcast, Wall Street, Syfy, Golf, Oxygen, MSNBC, CNBC, NBC News Locations: USA, Comcast's

☆ Comcast to spin off its cable channels, including MSNBC and CNBC, into separate company
▼ + stars: | 2024-11-19 | by ( Brian Stelter | ) edition.cnn.com time to read: +2 min

New York CNN —Comcast is planning to spin off most of its cable television networks, including MSNBC and CNBC, into a separate publicly traded company, according to executives with knowledge of the plan. The spinoff is expected to be formally announced on Wednesday. The Wall Street Journal, which first reported the impending announcement on Tuesday evening, said the involved channels also include USA, Oxygen, E!, Syfy and Golf Channel. While observers may view the spinoff as an attempt to shed cable channels that are losing value in the streaming age, the channels still contribute strong profits to Comcast’s bottom line. Wall Street analysts are predicting further consolidation of major media companies in the years ahead.

Persons: Mark Lazarus, Mike Cavanaugh, Craig Moffett, MoffettNathanson, ” Organizations: New, New York CNN, Comcast, MSNBC, CNBC, Street, Syfy, Golf, Bravo, NBC, NBC Sports, NBCUniversal Media, Wall Street, NBCUniversal News Locations: New York, USA

☆ NBC ripped up its Olympics playbook for 2024 — so far, the new strategy paid off
▼ + stars: | 2024-09-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Mike Tirico is seen on the set of NBCUniversal Paris 2024 Olympics coverage on August 04, 2024 in Paris, France. We ripped up the playbook two years ago," said Jenny Storms, chief marketing officer of entertainment and sports at NBCUniversal. The 2021 Tokyo Olympics and 2022 Beijing Olympics drew the lowest-ever audiences for Summer and Winter Games, respectively. But notably the strategy for Peacock during those Games appeared to be the biggest misstep. "We made a claim that Peacock would be the home of the Olympics, and we didn't exactly deliver," said Mark Lazarus, chairman of NBCUniversal Media Group.

Persons: Mike Tirico, Comcast's NBCUniversal, Jenny Storms, Storms, Peacock, Mark Lazarus Organizations: NBCUniversal, Games, NBC, Olympic, U.S, Beijing, Olympic Games, Olympics, NBCUniversal Media Locations: Paris, France, Tokyo, Asia, Beijing

☆ Paris Olympics ratings soar 82% over Tokyo Games, delivering big boost to NBC’s Peacock streamer
▼ + stars: | 2024-08-13 | by ( Liam Reilly | ) edition.cnn.com time to read: +5 min

The 2024 Summer Olympics in Paris drew a combined average of 30.6 million viewers across NBCU’s constellation of platforms, marking an 82% jump in viewership compared to the Tokyo Games and making the Games the most-streamed Olympics of all time. The network’s Spanish-language broadcast on Telemundo also saw a 26% jump over the same period during the Tokyo Games three years ago. “The Olympics reestablished its unique power to reassemble the American media audience,” said Gary Zenkel, the NBC Olympics president. “NBC Nightly News” anchored by Lester Holt averaged 7.6 million viewers during the two-week period, and the “Today” show averaged 3.1 million viewers, the network said. Last month, Comcast reported the streamer had lost 500,000 subscribers in the second quarter, falling to 33 million total, well below Netflix’s 277 million subscribers and Disney’s 153.6 million.

Persons: ”, Peacock, Gary Zenkel, “, NBCU, Al Michael’s, NBCUniversal, Mark Lazarus, Lester Holt Organizations: New, New York CNN, Comcast, Tokyo Games, Telemundo, Olympics, NBC, America, USA, US, France, Netflix, Amazon Prime, Paris Games, Tokyo, Games, Warner Bros, NBA, Paris Olympics, NBCUniversal Media, “ Parks, Studios Locations: New York, Paris, “ Paris

☆ Paris Olympics benefit from being first global event to fully emerge from pandemic's shadow
▼ + stars: | 2024-08-06 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Smith-Circle-Byline-Template.Jpg | Alexander Smith | ) www.nbcnews.com time to read: +3 min

PARIS — Lighting the Olympic cauldron symbolically opened these Games — and, as much as possible, might have also taken a torch to some awful pandemic memories. The past two Games were staged in bubbles in and around Beijing and Tokyo as Covid was still a factor. And while some athletes have tested positive for Covid during the Paris Games, they have not upended competition. (NBC News is a division of NBCUniversal, which owns the U.S. media rights to the Olympic Games through 2032.) French fans have been wildly cheering for their athletes and team throughout these Games — so much so, that even Americans have taken notice.

Persons: we’ve, ”, Covid, Thomas Samson, “, Keylle Fabrino, “ It’s, Selma Attie, ” Mark Lazarus, Katie Ledecky, they’ve, Léon Marchand, ” Ledecky Organizations: PARIS, Paris Games, Getty, Brasil, NBC, Olympic Games, NBC Universal Media Group, Los Angeles, Paris La Défense, U.S Locations: Taiwanese, London, Beijing, Tokyo, Paris, Brazil, France, NBCUniversal, Los Angeles, Inglewood

☆ 2024 Paris Olympics viewer’s guide: NBC’s plans, Snoop Dogg, and the big ratings question
▼ + stars: | 2024-07-24 | by ( Richard Deitsch | ) www.nytimes.com time to read: +18 min

Follow our Olympics coverage in the lead-up to the Paris Games. The Paris Games will have more programming hours on the NBC broadcast network than any previous Olympics. NBC is upping its celebrity presence for its Olympic coverage in Paris, headlined by Snoop Dogg. “Research shows that it is a challenge to keep viewers after 10 p.m. ET,” NBC Olympics producer Rob Hyland said. NBCUniversal owns the U.S. media rights to the Olympic Games through 2032, so Paris (2024), Milan-Cortina (2026), Los Angeles (2028) and Brisbane (2032).

Persons: Peacock, Molly Solomon, NBC’s, “, ” Solomon, Solomon, Snoop, Snoop Dogg, Christian Petersen, Kelly Clarkson, Peyton Manning, Mike Tirico, Alex Cooper, Leslie Jones, Kevin Hart, Kenan Thompson, Colin Jost, Cooper, Simone Biles, Manning, Ryan Crouser, Jones, Katie Ledecky, Sha’Carri Richardson, Lily Collins, Anna Hall, Ledecky, LeBron James, Sydney McLaughlin, Kelly Campbell, Peacock’s, Scott Hanson, Andrew Siciliano, Jac Collinsworth, Matt Iseman, Akbar Gbajabiamila, ”, Al Michaels, Mark Lazarus, Sanya Richards, Ross, Rowdy Gaines, Tim Daggett, Laurie Hernandez, Samantha Peszek, Misty, Julie Foudy, Dwyane Wade, LaChina Robinson, Michael Phelps, Dan Hicks, Gaines, Maddie Meyer, they’ll, Rob Hyland, Andres Cantor, Rebecca Lowe, Craig Melvin, Ahmed Fareed, Damon Hack, Maria Taylor, Cara Banks, Laura Britt, Trenni Casey, Lindsay Czarniak, Carolyn Manno, Kathryn Tappen, John Roethlisberger, “ John, He’s, …, breaststroker Lilly King wagged, Ryan Murphy, Sunny Choi, Victor Montalvo, Joe Gesue, Ron Vaccaro, NBCU, it’s, NBCUniversal, Rick Cordella, Dan Goldfarb, Stuart Franklin Organizations: Paris, NBC, Paris Games, U.S, Tokyo Olympics, Olympics, NBC Olympics, NBC’s, Getty, NBC Sports, Tokyo Games, Beijing, Games, USA, CNBC, Golf Channel, Telemundo, Universo, NBCOlympics.com, “, ”, NFL, NBCUniversal Media, Paris La Défense, Research, Olympic, Grand Palais, Concorde, NBC Sports ’, Olympic Games, Cortina Locations: Paris, Beijing, Pyeongchang, South Korea, Central, Pacific, U.S, Paris ”, Teahupo’o, Tahiti, Rio de Janeiro, Brazil, China, Rio, Tokyo, Peacock, United States, Versailles, Grand, London, Russian, Norway, South Carolina, Milan, Los Angeles, Brisbane, French

☆ The cost of sports content is soaring — and it could mean big cuts in Hollywood budgets
▼ + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Read previewSports has increasingly become the star of the show for big TV companies, and its ascent is sending a shiver down Hollywood's spine. AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.

Persons: —, Doug Shapiro, Shapiro, Seth Meyers, Spencer Wang, David Levy, — it's, Levy, it's, Jonathan Miller, WBD, Michael Kassan, Mark Lazarus, Media Group's, John Kosner, Ed Desser, Sports doesn't, David Zaslav, Alex Iosilevich Organizations: Service, NBA, Business, Turner Broadcasting, Apple, Google, Street Journal, NBC, ESPN, Amazon, Warner Bros, NFL, Comcast, Netflix, Nielsen, Turner Networks, Horizon, Entertainment, Marvel, Star, Integrated Media Co, Hollywood, Media, Warner Bros . Discovery, Sports, Cannes Lions, Turner, TNT, TBS, Premier League, WWE

☆ Hollywood is facing a dire threat: sports
▼ + stars: | 2024-06-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

AdvertisementSports media rights have never been more expensive, but media companies keep paying up. The number of TV shows across the industry has been declining since the 2022 end of the Peak TV era. Media companies have been aggressively pursuing other secondary sports to maintain their value to distributors and advertisers, as Warner Bros. All this has dire implications for entertainment budgets, which media companies have already been trimming after overspending to build streaming businesses. AdvertisementRelationships with the top people in sports will likely be a bigger factor in leadership at media companies moving forward.

☆ Comcast president Cavanagh shakes up NBCUniversal leadership
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

Cavanagh, who has been running NBCUniversal since April, said he would continue to lead the division as president of Comcast and not name a new CEO. In his first major action since taking the helm of the unit, Cavanagh also named Mark Lazarus as chairman of NBCUniversal Media Group while Cesar Conde will expand his role as head of the news division to oversee NBCUniversal Local and Telemundo Enterprises Group. Pearlena Igbokwe will continue to lead the four TV studios under the Universal Studio Group umbrella. Cavanagh took charge after Jeff Shell left following the acknowledgment of an inappropriate relationship with a woman in the company. Before his role as president, Cavanagh had served as the finance chief.

Persons: Mike Cavanagh, Donna Langley, Cavanagh, Mark Lazarus, Cesar Conde, Pearlena Igbokwe, Jeff Shell, Akash Sriram, Tanya Jain, Dawn Chmielewski, Sriraj Organizations: NBCUniversal, Group, Reuters, Comcast, NBCUniversal Media, NBCUniversal Local, Telemundo Enterprises Group, Universal Studio Group, Thomson Locations: Bengaluru, Dawn, Los Angeles

Other executives who will remain on Mr. Cavanagh’s leadership team include Cesar Conde, chairman of NBCUniversal News Group, who will gain oversight of Telemundo and NBC’s local stations, and Mark Woodbury, the company’s parks chief. Mr. Cavanagh is essentially winnowing the number of executives who report directly to him, streamlining the company’s leadership ranks. He will also continue to work directly with Adam Miller, an executive vice president overseeing operations and technology as well as communications, human resources and corporate social responsibility; Kim Harris, the company’s general counsel; Anand Kini, NBCUniversal’s chief financial officer; and Craig Robinson, executive vice president and chief diversity officer. The promotions were the first major step taken by Mr. Cavanagh since he took over leadership of the company. Its previous chief executive, Jeff Shell, stepped down after an investigation into sexual harassment.

Persons: Mike Cavanagh, Cavanagh, Donna Langley, Mark Lazarus, Cavanagh’s, Cesar Conde, Mark Woodbury, Adam Miller, Kim Harris, Anand Kini, Craig Robinson, Jeff Shell Organizations: NBCUniversal News, Telemundo

This year, advertisers and ad agencies may well use the strike as a bargaining tool, said Erin Firneno, vice president of business intelligence for researcher Advertiser Perceptions. The writers’ strike, which has entered its third week, is also injecting a new element of uncertainty for ad buyers, at a time when television viewership is declining and the possibility of recession looms. While the TV networks have long contended with splintered viewership amid the rise of social media and streaming, the writers' strike puts content production at risk, said Rishad Tobaccowala, a former executive at advertising and public relations giant Publicis Groupe and advisor on business transformation. Last year, NBC’s upfront presentation emphasized star power as the network returned to a live event after a COVID-19-imposed hiatus. Ahead of the upfront presentations, media executives sought to reassure investors about the strike’s impact.

The departure of ads chief Linda Yaccarino to Twitter has thrown NBCU into chaos. The exit comes on the heels of the departure of NBCU CEO Jeff Shell after sexual harassment allegations. One advertising executive who works closely with NBCUniversal described the situation inside the company as a "Cuban missile crisis." NBCU does have a deep bench of ad executive talent that's highly regarded in the ad industry. Although Yaccarino's departure from NBCUniversal to Twitter was a surprise, she had been close with the company and its billionaire owner.

☆ Inside NBCUniversal, female execs are eyeing leadership's next moves after CEO Jeff Shell's ouster over 'inappropriate relationship': 'We're watching'
▼ + stars: | 2023-05-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

NBCUniversal insiders are reeling after chief Jeff Shell's stunning departure and asking questions about what's next for the Comcast division. News of Shell's hasty exit dropped April 23 after an investigation into what he called an "inappropriate relationship" with a company employee. "It's shocking," said one employee, wondering how an executive at Shell's level would take such a risk with his career. Two staffers also grumbled that the company hasn't widely addressed the matter internally since its terse statement announcing Shell's exit. Keeping Cavanagh atop NBCU could serve another purpose — to help bring about a merger of Comcast with Warner Bros.

☆ NBCUniversal insiders are asking what's next after CEO Jeff Shell's 'shocking' exit, and female execs are watching leadership closely after a string of high-profile sexual allegations
▼ + stars: | 2023-04-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

They're asking what Comcast exec Mike Cavanagh's elevation to handle Shell's remit means for NBCU's future. NBCUniversal insiders are reeling after chief Jeff Shell's stunning departure and asking questions about what's next for the Comcast division. News of Shell's hasty exit dropped Sunday after an investigation into what he called an "inappropriate relationship" with a company employee. "It's shocking," said one employee, wondering how an executive at Shell's level would take such a risk with his career. Keeping Cavanagh atop NBCU could serve another purpose — to help bring about a merger of Comcast with Warner Bros.

☆ NBCUniversal CEO Jeff Shell exits after an 'inappropriate relationship,' shocking insiders, and Comcast won't rush to replace him as corporate exec Mike Cavanagh steps up
▼ + stars: | 2023-04-24 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +5 min

NBCUniversal CEO Jeff Shell's exit shocked company insiders and all of Hollywood. NBCUniversal CEO Jeff Shell's bombshell departure on Sunday night was a surprise to the well-regarded executive and also to his closest colleagues. Deadline reported that Shell's relationship was with CNBC's senior international correspondent, Hadley Gamble, which lasted 11 years but had ended a couple of years ago. "Comcast is as buttoned-up and straight as ever — this is a black eye for Brian Roberts," the Comcast CEO. A second company insider, however, said that Cavanagh is expected to remain in the role for some time.

One of the really interesting questions here – this will be fascinating – the core of linear TV is sports rights. When you look at the size and scope of the linear TV business, it's huge. Patrick T. Fallon | Afp | Getty ImagesByron Allen, Entertainment Studios founder and CEO: I think linear TV will exist for a very, very long time. Simmons: I believe Apple, out of nowhere, will start making their own awesome televisions that have Apple TV embedded in them. We are witnessing early stages of this dynamic with deals like "NFL Sunday Ticket" on YouTube and the MLS deal with Apple TV.

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