Comcast will announce details later of how it plans to separate its US channel business.
During last month’s financials announcement, the US cable giant confirmed it was studying the spin-off of entertainment and news channels including MSNBC, CNBC, USA, Oxygen, E!, Syfy and Golf Channel.
However, as first reported by Wall Street Journal, Bravo, which is known for reality franchises including “Real Housewives” along with streaming service Peacock and the NBC broadcast network will stay within the main company.
Comcast will focus on broadcast TV, sports, movies and its theme parks, having shed itself of the cable channels that were so much more lucrative when Comcast assumed control of NBCUniversal in 2011. Subsequently, cord-cutting has impacted on subscribers and profitability as viewers turn to streaming services.
Ownership of the new operation will match that of Comcast, with Comcast Chairman and CEO Brian Roberts holding a one-third voting stake, though he won’t have a seat of the board.
Mark Lazarus, who is currently the chairman of NBCUniversal’s media group, is expected to be named chief executive of the new venture.
