Comcast CEO Brian Roberts has placed Donna Langley in a key leadership role, as the company plans to reduce its cable channel offerings.

Tomorrow, Comcast will announce its strategy to spin off several cable channels, including MSNBC, CNBC, E!, Syfy, Golf Channel, and USA, into a new company. This yet-to-be-named entity will be led by Mark Lazarus, the current head of NCU Media Group, as CEO, with Anand Kini, NBCU’s CFO, serving as a larger CFO and COO.

Channels such as NBC, the growing streaming service Peacock, and the popular Bravo will remain part of NBCUniversal. The cable channels’ spinoff is expected to finalize by late 2025, barring any issues. Following the news of a potential $7 billion valuation for the new company, Comcast’s stock experienced a positive surge in after-hours trading.

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An NBCU executive hinted at the strategic shift, stating, “It’s a tough decision, but it’s necessary. A streamlined offering for cable and a focus on core businesses will strengthen our future.”

Langley is viewed as crucial for NBCU’s growth under the new structure. The Philadelphia-based company is expected to confirm that Langley will become chairman of NBCUniversal Entertainment and Studios.

Following her success with last year’s “Oppenheimer” and the upcoming “Wicked,” Langley will take on greater authority as a studio leader, reflecting her capability in managing a modern company, according to industry insiders.

Comcast hinted at this split during an earnings call on October 31, with President Mike Cavanagh noting the company is assessing the best direction for its video assets.

This summer, Paramount Global and Warner Bros. Discovery faced significant financial losses as they adjusted the valuation of their cable businesses.

The Comcast executive stated, “We are exploring the creation of a new, well-capitalized company owned by our shareholders that would leverage our strong cable network portfolio to seize opportunities in the media landscape and enhance shareholder value.”

While specific details were not disclosed earlier, the Wall Street Journal has now provided insights into what this exploration entails.

 

Person: Donna Langley, Brian Roberts, Mark Lazarus, Anand Kini, Mike Cavanagh

Company Names: Comcast, NBCUniversal, NCU Media Group, NBCU, Peacock, Bravo, Paramount Global, Warner Bros. Discovery

Titles: Oppenheimer, Wicked

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