What the Comcast cable network spinoff means for MSNBC and NBC News [Los Angeles Times (CA)]
Comcast Corporation - Class A (CMCSA)
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Source: Los Angeles Times
Microsoft, then a minority partner in the channel, made web culture part of its programming. Now, MSNBC is being upended by the very technology it first embraced, with streaming video now accounting for nearly half of all TV viewing, according to Nielsen. The decline of pay TV has culminated in Comcast placing MSNBC — along with sister networks such as CNBC and E! — in a spinoff company that will essentially be a repository for its cable outlets. The plan , formally announced Wednesday, means MSNBC will be owned by a separate entity from its parent NBC News, ending what has at times been a tense relationship. Nothing changes right away, however. The spinoff, valued at $7 billion, isn't expected to be completed for about a year. And NBC News will continue to provide news-gathering services to MSNBC after the spinoff. Nonetheless, the deal raises questions about the future of liberal-slanted MSNBC, which has at times beat its more down-the-middle rival CNN in ratings for major e
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