Comcast will announce the spinoff of cable networks Wednesday, CNBC source says

The Comcast NBC logo is shown on a building in Los Angeles, California, June 13, 2018.

Mike Blake | Reuters

Comcast is moving forward the spinoff of its cable network channels, a source familiar with the matter told CNBC’s Julia Boorstin on Tuesday.

The separation is expected to take about a year, and an announcement from the company could come as early as Wednesday, the person said. The company had announced during its quarterly earnings in October it was considering a split of the cable networks.

The spinoff was first reported by The Wall Street Journal.

This is breaking news. Please refresh for updates.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.

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