What will happen to CNBC and MSNBC when they no longer have a corporate connection to NBC News?
Two television networks with “NBC” in their names — MSNBC and CNBC — will no longer have any corporate connection to NBC News once a spinoff formally takes effect in about a year
Comcast's corporate reorganization means that there will soon be two television networks with “NBC” in their name — CNBC and MSNBC — that will no longer have any corporate connection to NBC News.
How that affects viewers of those networks, along with the people who work there, still needs to shake out. Their new corporate leader, Mark Lazarus, visited the set of MSNBC's “Morning Joe” as the plan was being announced on Wednesday and spoke to network staff members during a morning conference call to address concerns.
Comcast is spinning off most of its cable networks, also including USA, Oxygen, E!, SYFY and the Golf Channel, into a separate company. That recognizes how streaming is considered the future and the cable networks are a drag on the bottom line.
In the space of a lifetime, the networks went from upstarts aside a legacy operation like NBC to profitable superstars to castoffs.
Lazarus, chairman of the NBC Universal Media Group, is becoming CEO of the newly-formed company of cable networks, temporarily dubbed “SpinCo.” Cesar Conde, who as NBC Universal News Group chairman had oversight of CNBC and MSNBC, will lose those networks from his portfolio, yet remain in charge of NBC News, NBC News Now streaming, Telemundo and the news operations of the NBC-owned local stations.
The presence of Lazarus and Anand Kini, who will be chief operating officer and chief financial officer of SpinCo, is a good sign for the new company, said Jessica Reif Ehrlich, research analyst for the Bank of America. “You can't dismiss it as getting rid of the crappy
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