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cable system idiot box has long been viewed as a stagnant business , show piffling hope for growth over the years . However , Comcast believe it has found a new growth opportunity .
On Wednesday , the companyannouncedthat it ’s spinning off NBCUniversal ’s cable television television electronic connection — such as CNBC , E ! , Golf Channel , MSNBC , Oxygen , SYFY , and USA connection — into a separate publicly traded troupe . It ’s also including digital plus like GolfNow , Fandango , Rotten Tomatoes , and Sports Engine .
This bold spinoff strategy could put a precedent for how other media companies treat their cable communication channel .
It may look like this spinoff is a way for Comcast to get rid of asset that are diminishing in note value in the cyclosis era . However , Comcast enunciate that the new independent caller — which it calls SpinCo for now — will have “ significant scurf ” and is well - positioned for winner due to its portfolio of leading news , sports , and entertainment depicted object .
Other benefits the company anticipates are a good capital return policy to increase shareholder value and more “ fiscal tractableness to pursue growth opportunities , ” the company explains . Comcast take that , in the 12 month ending September 30 , SpinCo generate around $ 7 billion in revenue .
“ This dealings positions both SpinCo and NBCUniversal to play offense in a changing media landscape painting , ” Comcast chairperson Mike Cavanagh said in a program line . “ Taken together , the totality of NBCUniversal will be on a new growth trajectory , fueled by our world - class capacity , technology , IP , properties , and talent — all working in concert with each other as an integrated media company . ”
Mark Lazarus , chair of NBCUniversal Media Group , will help as chief executive officer of SpinCo .
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The spinoff is expect to be completed within one yr .
