Comcast Corp is planning to spin off a large part of its NBCUniversal’s cable TV channels into a separate publicly traded company (SpinCo).

Comcast has formally unveiled plans to spin out most of its linear cable networks (except Bravo) to shareholders in a separate company, a move that President Mike Cavanagh said puts all of NBCUniversal “on a new growth trajectory.

Comcast is moving forward with plans to spin off its NBCUniversal cable television networks including MSNBC and CNBC, sources say, shedding a once core part of the business that has been a casualty of the streaming video revolution.

Comcast may be proceeding with a transaction as a signal to the rest of the media industry that consolidation is necessary.

Comcast's annual revenue hit $121b in 2023. The proposed spinoff of its cable group represents $7b in revenue. Click here to find out more on CMCSA stock.

Comcast is carving off most of its cable channels. Will its new spinoff be a hunter or prey? The media giant last week put an upbeat spin on its move to shed what Wall Street sees as an albatross - the bulk of NBCUniversal's cable networks,