Comcast Spins Off NBCUniversal Cable Channels in $7B Move (Connecting the Dots: NBCUniversal, MSNBC, The Comcast Corporation & Soros Funding, All Networking)
Newsmax.com
By
Jim Thomas | Tuesday, 19 November 2024 08:31 PM EST
https://www.newsmax.com/finance/streettalk/comcast-nbcuniversal-cable/2024/11/19/id/1188722/
Comcast
is set to announce a groundbreaking $7 billion spin-off of its NBCUniversal
cable TV networks, marking a pivotal shift in its growth strategy amid the
changing media landscape, The Wall Street Journal reported.
Comcast Corp. is moving forward with plans to
spin off its NBCUniversal cable TV networks, a move aimed at restructuring its
portfolio to adapt to the evolving media environment. The $7 billion venture,
expected to be tax-free, will house a range of entertainment and news channels,
including MSNBC,
CNBC, USA, Oxygen, E!, Syfy, and the Golf Channel.
The
announcement, slated for Wednesday, reflects Comcast's strategy to refocus its
resources on broadcast TV, streaming, sports, and other high-growth areas.
Although cable networks generate steady profits, cord-cutting trends have
significantly impacted subscriber bases and viewership, diminishing their
once-dominant status.
Key
NBCUniversal assets, such as Bravo and its popular reality TV programming, will
remain with Comcast, along with the NBC broadcast network and the Peacock
streaming service. These entities are vital to the company's future growth. The
cable networks being spun off earned approximately $7 billion in revenue in the
12 months ending Sept. 30.
Mark
Lazarus, chair of NBCUniversal's media group, will serve as CEO of the new
cable-focused venture. Anand Kini, NBCUniversal's chief financial officer, will
serve as CFO and operating chief for the spin-off. Comcast Chair and CEO Brian
Roberts will hold a one-third voting stake in the new entity but will not join
its board.
The
move reflects Comcast's belief that the cable venture will require greater
scale to remain competitive. Media analysts suggest the new company may seek
consolidation opportunities with other networks to expand its reach and
profitability.
The
spin-off follows a series of leadership changes across Comcast and
NBCUniversal. Donna Langley, currently the Chief Content Officer, will become
chair of NBCUniversal Entertainment and Studios. Her role will include
overseeing production greenlights, marketing, and managing content budgets.
Matt
Strauss, head of Comcast's direct-to-consumer business, will become chair of
NBCUniversal Media Group and oversee sports, ad sales, and distribution.
Langley and Strauss will share responsibilities in key operational areas.
Cesar
Conde will continue as chair of NBCUniversal News Group, which oversees NBC
News, Telemundo, and local TV stations. He will also advise on growth
opportunities. Additionally, an executive vice president, Adam Miller, will be
promoted to COO of NBCUniversal, with responsibilities spanning operations,
technology, and communications.
The
decision to spin off the cable networks marks a significant moment for Comcast,
which acquired NBCUniversal in 2011. At the time, channels such as E! and
Oxygen were among the company's most valuable assets
in a thriving cable market. However, with the rise of streaming and the decline
of traditional cable TV, Comcast is prioritizing investments in areas with
greater growth potential.
The
spin-off is expected to take about a year to complete.
Connecting
the Dots:
Jeff Zucker was
the president & CEO for NBCUniversal and is a director emeritus
for the Robin Hood Foundation.
Clifford S.
Asness was a leadership council member at the Robin Hood
Foundation, supported same-sex marriage in New York and is
a director at the International Rescue Committee.
Tom Brokaw is an
overseer at the International Rescue Committee and was an anchor
for the NBC Nightly News.
Foundation to Promote Open Society was a funder for
the International Rescue Committee.
George Soros was the chairman
for the Foundation to Promote Open Society.
Harold E.
Ford Jr. was an overseer at the International Rescue Committee and
is a political commentator for MSNBC.
Morning Joe is
an MSNBC program.
Steven L. Rattner is
a frequent guest on Morning Joe and was a trustee at the Brookings Institution (think tank).
Judith
Rodin was an honorary trustee at the Brookings
Institution (think tank) and is a director at the Comcast
Corporation.
Foundation to Promote Open Society was a funder for the Brookings
Institution (think tank) and the Center for American Progress.
George Soros was the chairman
for the Foundation to Promote Open Society, a supporter for
the Center for American Progress and is the founder & chairman
for the Open Society Foundations.
Open Society Foundations was a funder
for the Center for American Progress.
Comcast Corporation was a funder
for the Center for American Progress.
Steven J. Spinner was
a senior fellow at the Center for American Progress and the
president of strategic partnerships for NBC.
NBCUniversal is
a subsidiary of NBC.
Sundance Channel is
a partner with NBCUniversal.
Robert Redford is
a partner with the Sundance Channel, the founder & president of
the Sundance Institute and a trustee at the Natural
Resources Defense Council.
Foundation to Promote Open Society was a funder
for the Sundance Institute, the Natural Resources Defense
Council and the Brookings Institution (think tank).
George Soros was the chairman for the Foundation to Promote
Open Society.
Judith Rodin was
an honorary trustee at the Brookings Institution (think tank) and
is a director at the Comcast Corporation.
Vernon E. Jordan
Jr. is an honorary trustee at the Brookings Institution (think
tank) and a senior counsel for Akin, Gump, Strauss, Hauer &
Feld, LLP.
Savannah Guthrie
was an attorney for Akin, Gump, Strauss, Hauer & Feld, LLP, the
White House correspondent for the NBC News, is a co-host for Today
and married to Michael Feldman.
NBC News is a
subsidiary of NBC.
Today is an NBC program.
Michael Feldman is
married to Savannah Guthrie and was Albert A. Gore Jr’s deputy
director of legislative affairs.
Albert A. Gore Jr.’s
deputy director of legislative affairs was Michael Feldman, a donor
for The Climate Project, is the chairman for the Climate
Reality Project and a partner at Kleiner Perkins Caufield &
Byers.
Foundation to Promote Open Society was a funder
for the Climate Reality Project.
George Soros was the chairman for the Foundation to
Promote Open Society.
Kleiner
Perkins Caufield & Byers was a donor for The Climate
Project.
The Climate
Project is a merged organization with the Climate Reality
Project.
Colin L. Powell was the strategic adviser for Kleiner Perkins Caufield & Byers and
an overseer for the International Rescue Committee.
Tom Brokaw is an
overseer for the International Rescue Committee,
was an anchor for the NBC Nightly News and a director at
the Robin Hood Foundation.
Foundation to Promote Open Society was a funder for the International
Rescue Committee and the Robin Hood Foundation.
George Soros was the chairman
for the Foundation to Promote Open Society.
Clifford S.
Asness is a director at the International Rescue Committee,
supported same-sex marriage in New York and was a leadership
council member at the Robin Hood Foundation.
Jeff Zucker is
a director emeritus for the Robin Hood Foundation and was the
president & CEO for NBCUniversal.
NBCUniversal is
a subsidiary of NBC.
Today is an NBC program.
NBC News is a
subsidiary of NBC.
Steven J. Spinner was
the president of strategic partnerships for NBC and a senior fellow
at the Center for American Progress.
Comcast
Corporation was a funder for the Center for American Progress.
Open Society Foundations was a funder for
the Center for American Progress.
George Soros is the founder & chairman for
the Open Society Foundations, was the chairman for the Foundation
to Promote Open Society and a supporter for the Center for American
Progress.
Foundation to Promote Open Society was a funder
for the Center for American Progress and the Brookings
Institution (think tank).
Judith Rodin was
an honorary trustee at the Brookings Institution (think tank) and
is a director at the Comcast Corporation.
Resources:
Past Research
MSNBC
Host Threatens to Quit After Show Pulled (Connecting the Dots: MSNBC, Mika
Brzezinski, Morning Joe, Zbigniew Brzezinski, Kimberly Cheatle, U.S. Secret
Service, PepsiCo & Soros Funding, All Networking) (Past
Research on MSNBC)
Tuesday,
July 16, 2024
https://thesteadydrip.blogspot.com/2024/07/msnbc-host-threatens-to-quit-after-show.html
Disney
Cartoon Teaches Children Being a Princess Is a ‘State of Mind’ (Past Research on NBCUniversal)
Sunday,
November 26, 2017
https://thesteadydrip.blogspot.com/2017/11/disney-cartoon-teaches-children-being.html
Savannah
Guthrie Leads to Replace Disgraced Brian Williams (Past
Research on NBC)
Wednesday,
February 11, 2015
https://thesteadydrip.blogspot.com/2015/02/savannah-guthrie-leads-to-replace.html
Corporate
Backlash: Comcast Executives Push Employees To Protest Trump’s Popular
Immigration Reform (Past Research on Comcast)
Saturday,
February 4, 2017
https://thesteadydrip.blogspot.com/2017/02/corporate-backlash-comcast-executives.html
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