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.

Source

Business

Hyundai reveals all-electric Ioniq 9 three-row SUV

November 21, 2024

2026 Hyundai Ioniq 9 EV. Hyundaio Hyundai Motor’s newest all-electric vehicle is the 2026 Ioniq 9 SUV — a three-row, up to seven-passenger SUV for the U.S. market. The new vehicle is Hyundai’s largest EV entry to date, joining the smaller Ioniq 5 and Ioniq 6 all-electric vehicles in the carmaker’s growing fleet. The Ioniq […]

Business

Comcast’s cable network spinoff may be a signal to the media industry for necessary change

November 20, 2024

Nikolas Kokovlis | Nurphoto | Getty Images Comcast shares posted modest gains Wednesday after the company announced its plan to spin off all of NBCUniversal’s cable networks — except Bravo — into a separately publicly traded entity. Investors’ initial shrug at the proposed transaction underscores the uncertainty of the maneuver. The hope for Comcast is […]

Business

McDonald’s preparing a 2025 ‘McValue’ offering

November 20, 2024

A McDonald’s is seen in the Flatbush neighborhood in Brooklyn, New York City, on Oct. 23, 2024. Michael M. Santiago | Getty Images McDonald’s is preparing 2025 value offerings in a bid to hang onto customers who are fed up with high costs at restaurants. The company is working on a new “McValue” approach for […]