Comcast is expected to announce Wednesday that it is moving forward with a plan to spin off its NBCUniversal cable TV networks, according to people familiar with the situation, acknowledging that it will be better off without a business that was once its crown jewel.
The company, which last month said it was studying the idea, will separate off entertainment and news channels including MSNBC, CNBC, USA, Oxygen, E!, Syfy and Golf Channel. Those assets generated about $7 billion in revenue in the 12 months ended Sept. 30.
Bravo, known for reality TV programming such as the “Real Housewives,” will stay in the mother ship, along with the Peacock streaming service and the NBC broadcast network, the people said.
Comcast is betting that NBCUniversal’s remaining assets—including in broadcast TV, sports, movies and theme parks—will be better positioned for growth, and that its strong balance sheet can absorb the loss of still-healthy profits from cable networks.
…
[Y]ears of cord-cutting have taken a heavy toll on subscribers and viewership. Every major media company has slashed costs in these networks, but Comcast is the first to hive off nearly the entire business into a separate firm.
No way to know for sure how this could impact NASCAR coverage, if at all.