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Comcast to spin off some cable TV networks as streaming dominates
(Reuters) -Comcast said on Wednesday that it plans to spin-off the bulk of its fading NBCUniversal cable TV networks, including MSNBC and CNBC, as the company said it is repositioning itself for growth in the streaming era. Shares of the company were off less than 1% after the announcement that Comcast would separate its entertainment and news channels, including USA Network, Oxygen, E!, Syfy and Golf Channel, into a new, publicly traded company. Comcast will retain the core of NBCUniversal’s entertainment assets, including its NBC broadcast network, sports and news, its film and television studios, and the Bravo network, which are seen as fueling growth for its Peacock streaming service.