Comcast's "SpinCo," a bundle of cable networks set to become a public company in 2025, is searching for a Manhattan headquarters to house workers, entertainment teams, and MSNBC's NY studio and production facility.
Led by Mark Lazarus, the yet-to-be-named entity will include USA Network, CNBC, MSNBC, Oxygen, E!, SYFY, Golf Channel, and digital assets like Fandango and Rotten Tomatoes. Englewood Cliffs, NJ, will remain CNBC's home and serve as SpinCo's technical operations hub, while 400 North Capitol in DC will continue as MSNBC and CNBC's bureau.
The tax-free spinoff, one of the TV industry's biggest moves to counter declining linear TV subscribers and revenue, will give the $7 billion company flexibility for acquisitions in the pay-TV sector.
Warner Bros. Discovery is also restructuring into linear networks and streaming divisions to adapt to market disruption, following significant write-downs by WBD and Paramount Global in 2024. Comcast aims to complete the spinoff by November 2025.
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