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

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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