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The Comcast NBC logo is shown on a building in Los Angeles, California, June 13, 2018.
Mike Blake | Reuters
Comcast is moving forward the spinoff of its cable network channels, a source familiar with the matter told CNBC’s Julia Boorstin on Tuesday.
The separation is expected to take about a year, and an announcement from the company could come as early as Wednesday, the person said. The company had announced during its quarterly earnings in October it was considering a split of the cable networks.
The spinoff was first reported by The Wall Street Journal.
This is breaking news. Please refresh for updates.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
in HTML format to make it easy for teens to read and understand. Create appropriate headings and subheadings to organize the content. Ensure the rewritten content is approximately 1000 words. At the end of the content, include a “Conclusion” section and a well-formatted “FAQs” section.
Author: www.cnbc.com
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