Comcast to spin off the cable television networks.

Comcast, a broadcasting and cable television company, agreed to spin off the cable television networks including CNBC, MSNBC and E!. Financial terms were not disclosed. “As a standalone company with these outstanding assets, we will be better positioned to serve our audiences and drive shareholder returns in this incredibly dynamic media environment across news, sports and entertainment. We see a real opportunity to invest and build additional scale and I’m excited about the growth opportunities this transition will unlock. Our financial strength will also provide capacity for an attractive capital return policy while allowing for investment in the growth of these businesses,” Mark Lazarus, NBCUniversal Chairman.