PHILADELPHIA (dpa-AFX) - Comcast (CMCSA) is planning to spin off its NBCUniversal cable TV networks, a move that could result in the separation of assets such as MSNBC and USA channels. These networks collectively generated approximately $7 billion in revenue during the 12 months ending September 30, according to media reports, citing sources familiar with the matter.
The spinoff, expected to take about a year to finalize, could help simplify the operations of the entertainment giant and better position NBCUniversal's remaining assets for future growth, the report said.
Mark Lazarus, the current chairman of NBCUniversal Media Group, is expected to be appointed CEO of the new company.
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