MSNBC to Split From NBC News Following Comcast Cable Break-Up

Comcast to MSNBC: It's not us, it's you. NBCUniversal News Group's parent company unveiled an ambitious plan on Wednesday that would spin many of its struggling cable networks off into a separate company that's currently being called, appropriately enough, SpinCo. CNBC, Syfy, E!, and the USA Network are among the channels joining MSNBC in this new venture. "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, adding: "SpinCo will be ideally positioned for success and highly attractive to investors, content creators, distributors and potential partners." SpinCo will be led by NBCUniversal Media Group chairman Mark Lazarus and NBCUniversal CFO and Comcast EVP of corporate strategy Anand Kini. Current NBCUniversal News Group chairman Cesar Conde will remain in his role overseeing NBC News and Telemundo, as well as local TV stations. This move will notably cleave MSNBC and CNBC from NBC News' newsgathering operations following an Election Night where the inter-network synergy—like the Kornacki Cam—was very much on display. In a memo to staff obtained by TVNewser, Comcast president Mike Cavanagh provided more details about SpinCo, citing both MSNBC and CNBC as key assets in the new company's portfolio. "SpinCo will provide a diverse and differentiated content offering that will reach approximately 70 million U.S. households, making it highly attractive to investors, content creators, distributors, consumers, and potential partners," Cavanagh wrote. Cavanagh also reiterated that NBC News and Telemundo will remain with NBCUniversal alongside the NBC broadcast network—home of the flagship newscasts Today and NBC Nightly News—and the Peacock streaming service. "These businesses will operate together, drawing on decades of experience creating, producing, and bringing exceptional content to viewers," he noted. Meanwhile, Brian Steinberg reports in Variety that Lazarus met with MSNBC staffers on Wednesday morning and described the new version of the network as "a well-funded start-up." According to Steinberg's sources, executives indicated that the network might have to undergo a name change and potentially relocate to a new city, although it would still have a presence in New York. An MSNBC source tells TVNewser that no decisions have been reached about a new name or location or how the newsgathering operation will work once SpinCo makes its debut in 2025. Per the source, Lazarus spent the entire morning speaking with MSNBC staff and characterized the network's future as "exciting" and a "unique opportunity." Comcast first floated the idea of spinning off its declining cable assets in October ahead of the presidential election that saw President-elect Donald Trump returned to the Oval Office. Since then, MSNBC's ratings have steadily declined and its popular Morning Joe program has been embroiled in controversy since co-hosts Joe Scarborough and Mika Brzezinski announced their first in-person meeting with Trump in seven years. According to Comcast's announced timeline, NBC News will roughly have a year to unwind itself from MSNBC and CNBC with SpinCo expected to launch in late 2025. Media watchers are now turning their eyes to Warner Bros. Discovery and Paramount Global—which own CNN and CBS News, respectively— as the next possible conglomerates to break up with their cable channels. Appearing on Morning Joe on Wednesday, CNBC co-host Andrew Ross Sorkin spotlighted why he's bullish on MSNBC leaving NBC News for SpinCo. "MSNBC [and] CNBC produce extraordinary profits," he noted. "So the question is: If you could take that money that's coming off of these channels and invest it in the businesses as an independent entity—what [does] that ultimately look like?" [This post has been updated to include details from Mike Cavanagh's memo, Brian Steinberg's Variety report, MSNBC sources and Andrew Ross Sorkin's Morning Joe appearance.]

MSNBC

MSNBC to Split From NBC News Following Comcast Cable Break-Up

The ratings-challenged cable outlet will no longer be part of NBC News

Create Your Free Account

Registration Includes:

Ethan Alter

About

Subscriptions

Events

Publications