Cable television has long been viewed as a stagnant business, showing little promise for growth over the years. However, Comcast believes it has found a Comcast is spinning off NBCUniversal’s cable television networks into a separate publicly traded company.

Comcast will spin off many of NBCUniversal’s cable television networks, including USA Network, CNBC and MSNBC, into a separate public company. The shift, which comes as more and more people opt for streaming services over traditional cable,

Comcast will spin off many of its cable television networks that were once at the heart of the entertainment giant as people increasingly swap out their cable TV subscriptions for streaming platforms.

Comcast is moving forward with plans to spin off its NBCUniversal cable television networks including MSNBC and CNBC, sources say, shedding a once core part of the business that has been a casualty of the streaming video revolution.

The new publicly traded company is set to debut next year, with a bundle of channels that also includes Oxygen, E! and Syfy.

US media giant Comcast is reportedly proceeding with the rumoured spin-off its NBCUniversal cable television arm as it seeks to better position itself to take o

Universal’s theme parks, as well as its film and television studios, will also remain unchanged with Comcast.

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.

Comcast Corp. plans to spin off cable-TV channels including MSNBC, CNBC and USA, following through on plans first announced last month.

The new venture will house channels like E!, USA and MSNBC, and Comcast also announced several leadership changes.