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Comcast Announces Spin-Off of Most Cable Networks Into New Company to ‘Set These Businesses Up for Future Growth,’ CEO Brian Roberts Says
Comcast officially announced plans offload the bulk of NBCUniversal's cable portfolio, excluding Bravo, into a new entity owned by shareholders.
The company announced a plan Wednesday that will offload the bulk of NBCUniversal ‘s financially challenged cable portfolio — excluding Bravo — into a new entity owned by Comcast shareholders. “When you look at our assets, talented management team and balance sheet strength, we are able to set these businesses up for future growth,” Comcast chairman and CEO Brian Roberts said in a statement. Those include how MSNBC will be separated from NBC News Group, led by Cesar Conde, and how NBCU will split up its advertising-sales division, which currently spans its full TV and streaming lineup.
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