Comcast to announce spinoffs of cable networks
(NBC, KYMA/KECY) - Comcast is expected to announce a spinoff of cable networks on Wednesday. The spinoff includes CNBC, MSNBC and E!, but Bravo will not be included in the spinoff.
It's expected to take about a year to rollout the spinoffs.
By separating the cable networks, it will give Comcast the optionality to merge with other networks.
The spinoff will be tax free and the share structure of the new entity will mirror that of Comcast's.
