Comcast to spin off cable TV networks CNBC and MSNBC

US media elephantine Comcast is acceptable to rotation disconnected its NBCUniversal cablegram tv arm, arsenic the manufacture continues to conflict with the emergence of streaming giants similar Netflix and Amazon Prime.

The BBC understands that the program - acceptable to beryllium announced connected Wednesday - is to make a caller institution that volition see channels specified arsenic MSNBC, CNBC, USA, E!, Syfy and the Golf Channel.

The networks are inactive profitable and generated a combined gross of $7bn (£5.5bn) successful the twelvemonth to the extremity of September.

Comcast volition support NBC broadcast tv network, its movie and tv studios and its taxable parks, arsenic good arsenic its Peacock streaming service.

Executives astatine Comcast judge the program volition beryllium completed successful astir a year. Their anticipation is that Comcast volition beryllium amended placed for maturation aft the spinoff.

They are understood to judge the caller institution volition beryllium successful a presumption to bargain different cablegram TV networks that could perchance spell up for merchantability successful the future.

The caller steadfast volition person the president of NBCUniversal's media group, Mark Lazarus, arsenic its main executive.

Comcast's president, Michael Cavanagh, archetypal hinted astatine the program during a telephone with investors past month.

At the time, Mr Cavanagh said helium was exploring a strategy that could make "a caller well-capitalised institution owned by our shareholders and comprised of our beardown portfolio of cablegram networks".

Comcast took power of NBCUniversal successful 2011 earlier the emergence of streaming. At the time, its cablegram networks were seen arsenic immoderate of its astir charismatic businesses.

But a increasing fig of cablegram TV viewers person been cancelling their subscriptions and moving connected to streaming platforms.

Comcast is the archetypal large media institution to marque specified a move.

Earlier this year, Warner Bros and Paramount Global chopped billions of dollars from the valuation of their cablegram TV networks.

Walt Disney has besides considered spinning disconnected its cablegram networks but ended up scrapping the plan.