The Wall Street Journal reports that Comcast has now announced intentions to spin off a number of cable channels that were previously considered prime assets.
This announcement was made days after MSNBC’s ratings began to radically decline.
MSNBC, CNBC, USA, E!, Oxygen, SyFy, and other news and entertainment channels are being spun off by the cable behemoth.
The New York Times reports that MSNBC’s ratings experienced a 53% decline subsequent to the 2024 election, when former President Donald Trump defeated Vice President Kamala Harris.
Mark Lazarus was appointed as the CEO of the new venture, Donna Langley was appointed as the chairman of NBCUniversal Entertainment and Studios, and Matt Strauss was appointed as the director of sports, advertising sales, and distribution.
Additionally, Comcast announced changes in its leadership.
The WSJ reported that the broadcast network NBC, the Peacock streaming service, and the reality-focused Bravo cable channel would remain under Comcast.
The networks generate approximately $7 billion in revenue.
Also, the ratings for “Morning Joe” began to decline after MSNBC host Joe Scarborough announced at the beginning of the show on Monday that he and his co-host and wife, Mika Brzezinski, had met with Trump for the first time in seven years at Mar-a-Lago on Friday.
It was common practice for hosts and guests on MSNBC to exaggerate the allegations that the Trump campaign in 2016 conspired with the Russian government in order to defeat former Secretary of State Hillary Clinton.
Additionally, Democratic Representative Adam Schiff of California, who frequently made allegations regarding alleged collusion between the Trump campaign in 2016 and Russia, was frequently featured on the network’s broadcasts.
A later investigation revealed that the Steele dossier, which had been used to advance claims of conspiracy, was not credible.
[READ MORE: Famous Country Singer Arrested for Possession of Illegal Substances]