Cable Giant Announces Plans To Spin Off MSNBC, CNBC After Ratings Crash

Days after MSNBC’s ratings declined, Comcast revealed plans to split off several cable stations that were formerly considered prime assets, according to the Wall Street Journal.

According to the WSJ, the cable behemoth is separating off MSNBC, CNBC, USA, E!, Oxygen, SyFy, and other news and entertainment channels. According to the New York Times, the news follows a 53% drop in MSNBC ratings when former President Donald Trump defeated Vice President Kamala Harris in the 2024 election. (RELATED: Following his visit to Mar-A-Lago, Scarborough claims he was “flooded” with “very supportive” calls.)

Officially, Comcast will transfer the majority of NBCUniversal’s cable networks, with the exception of Bravo, to a new company that will be held by Comcast stockholders.

MSNBC, CNBC, USA, Oxygen, E!, Syfy, Golf Channel, and others will be housed in the spin-off business.The link https://t.co/HXCm6PITV9

— Variety November 20, 2024 (@Variety)

The WSJ reported that the broadcast network NBC, the Peacock streaming service, and the reality-focused Bravo cable channel would all continue to be owned by Comcast, generating an estimated $7 billion in income for the networks.

Following MSNBC presenter Joe Scarborough’s announcement at the beginning of “Morning Joe” Monday that he and his co-host and wife Mika Brzezinski met with Trump Friday for the first time in seven years at Mar-a-Lago, stating they needed to “restart communications,” the show’s ratings likewise began to drop.

According to the WSJ, Comcast also revealed changes to its leadership, appointing Matt Strauss to oversee sports, ad sales, and distribution, Donna Langley as chairman of NBCUniversal Entertainment and Studios, and Mark Lazarus as CEO of the new business.

Democratic Representative Adam Schiff of California, who frequently made claims regarding alleged collusion between the 2016 Trump campaign and Russia, was frequently on MSNBC, where hosts and guests frequently emphasized the allegations that Trump’s campaign conspired with the Russian government to defeat former Secretary of State Hillary Clinton. Later on, the Steele Dossier—which was used to support claims of collusion—was rejected.