Comcast Corp is planning to spin off a large part of its NBCUniversal’s cable TV channels into a separate publicly traded company (SpinCo).

With streaming ads poised for rapid expansion, the move will hasten advertisers’ exodus away from cable almost altogether.

Comcast's annual revenue hit $121b in 2023. The proposed spinoff of its cable group represents $7b in revenue. Click here to find out more on CMCSA stock.

Comcast said Wednesday that it is planning to spin off its NBCUniversal cable TV networks, including channels like MSNBC, CNBC, and E!, carving out a business that has been hurt by cord cutting and the rise of streaming.

Comcast is carving off most of its cable channels. Will its new spinoff be a hunter or prey? The media giant last week put an upbeat spin on its move to shed what Wall Street sees as an albatross - the bulk of NBCUniversal's cable networks,