Comcast is spinning out Rotten Tomatoes and cable networks right into a separate firm

Comcast is spinning out , Fandango and a bunch of NBCUniversal (NBCU) cable networks right into a separate firm. Which means USA Community, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel will quickly have a brand new house. Comcast is hanging onto different NBCU operations, specifically NBC, , movie and TV studios, Telemundo and theme parks. Bravo can also be sticking round to assist hold feeding Peacock’s ever-hungry actuality TV maw.

Comcast says the brand new entity might be a “tax-free spin-off” and the step is “anticipated to be accretive to income development at Comcast and roughly impartial to Comcast’s leverage place.” In different phrases, it is to do with cash — and maybe laying the groundwork for additional consolidation between main media firms. The spun-out properties pulled in round $7 billion between them during the last yr or so, whereas their future dad or mum will nonetheless have a partnership with NBCU. Comcast is aiming to finish the transition throughout the subsequent yr.

In its press release, Comcast calls the spin-off firm “SpinCo,” which is a placeholder and absolutely will not be the enterprise’ precise identify. In any case, having “SpinCo” as their dad or mum firm’s moniker would not precisely be nice optics for CNBC and MSNBC journalists.