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

With streaming ads poised for rapid expansion, the move will hasten advertisers’ exodus away from cable almost altogether.

The spinoff company will be "comprised of a strong portfolio of NBCUniversal's cable television networks, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel along with complementary digital assets including Fandango and Rotten Tomatoes, GolfNow and Sports Engine," Comcast said today.

Bravo stays with NBC, but other longtime cable networks such as E!, USA and MSNBC will be part of a new company.

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,