On Wednesday morning, the media giant confirmed that it is spinning off most of its cable channels, including MSNBC and CNBC, into a separate publicly traded company. The new company doesn’t have a formal name yet — Comcast is simplycalling it “SpinCo” — a suitable label since employees’ heads are spinning with questions.

Comcast is spinning off into a new company many of its cable television networks that were once at the heart of the entertainment giant, as consumers increasingly swap out their cable TV subscriptions

Comcast said on Wednesday that it plans to spin-off the bulk of its fading NBCUniversal cable TV networks, including MSNBC and CNBC, as the company said it is repositioning itself for growth in the streaming era.