Comcast Sets Plans to Spin Off Cable Networks, Including MSNBC and E! [Yahoo! Finance]
Paramount Global - Class A (PARAA)
Company Research
Source: Yahoo! Finance
and Golf Channel, into a standalone, publicly-traded company, TheWrap has learned. A formal announcement is expected as soon as Wednesday. The move, which was first reported by The Wall Street Journal , is expected to be structured as a tax-free spinoff to Comcast shareholders that will take around a year to complete. The venture's ownership structure will see Comcast chairman and CEO Brian Roberts hold a one-third voting stake, though he will not be on the spun-off entity's board. NBCUniversal Media Group chairman Mark Lazarus is expected to lead the venture as CEO, while NBCU chief financial officer Anand Kini will serve as the spun-off entity's CFO and chief operating officer. Chief content officer Donna Langley will become chairman of NBCUniversal entertainment and studios, where she will gain more control over content production and spending, while direct-to-consumer head Matt Strauss will succeed Lazarus as NBCUniversal Media Group chairman. Cesar Conde will remain chairman
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PARAA
Earnings
- 11/8/24 - Beat
PARAA
Sec Filings
- 11/21/24 - Form 8-K
- 11/14/24 - Form 4
- 11/14/24 - Form 8-K
- PARAA's page on the SEC website