CNBC, MSNBC Will Be Orphaned As Ties With NBC News Are Cut

Comcast’s corporate reorganization will result in two television networks with “NBC” in their names—CNBC and MSNBC—losing any corporate connection to NBC News, David Bauder reported for the Associated Press (AP).

Comcast plans to spin off most of its cable networks—including USA, Oxygen, E!, SYFY, and the Golf Channel—into a separate company. I Photo: Jim.henderson Wikimedia Commons

How this change will affect viewers and employees at those networks remains uncertain.

Their new corporate leader, Mark Lazarus, visited the set of MSNBC’s Morning Joe as the plan was announced on Wednesday and addressed staff concerns during a morning conference call.

Comcast plans to spin off most of its cable networks—including USA, Oxygen, E!, SYFY, and the Golf Channel—into a separate company. This move reflects the growing dominance of streaming as the future of media, with traditional cable networks seen as a financial drag.

Over the decades, these networks evolved from upstarts alongside NBC to profitable giants and now, castoffs.

Lazarus, chairman of NBC Universal Media Group, will become CEO of the newly formed company, temporarily named "SpinCo."

Cesar Conde, NBC Universal News Group chairman, will lose oversight of CNBC and MSNBC but will remain in charge of NBC News, NBC News Now streaming, Telemundo, and the news divisions of NBC’s local stations.

Jessica Reif Ehrlich, a research analyst for Bank of America, expressed optimism about the new company's leadership.

"You can’t dismiss this as getting rid of 'crappy assets' because these are talented executives,” she said, referencing Lazarus and Anand Kini, who will serve as SpinCo’s chief operating officer and chief financial officer.