By Comcast has begun exploring a significant transformation in its media business and it could dramatically shakeup the news industry. According to a new report, the corporation has begun considering spinning off its cable networks, including CNBC and MSNBC, into a standalone company. The move, which would exclude NBC broadcast and the Peacock streaming service, reflects Comcast’s effort to navigate an evolving media landscape marked by a sharp decline in traditional TV viewership as more consumers “cut the cord” in favor of streaming.
While Comcast rethinks its cable assets, the company is also seeking a partner to help expand Peacock’s reach. President Mike Cavanagh emphasized Comcast’s selective approach, noting, “We chose not to participate in the M&A process around Paramount earlier this year, but we would consider partnerships in streaming.” This shift signals a pivot from conventional mergers and acquisitions to collaborative growth strategies in the digital space.
The networks included in the potential spin-off are some of the biggest names in cable, and each brings its own brand identity and loyal following. But in a world where people get their news on Twitter and their true crime on Netflix, even household names are struggling to hold onto viewers, writes one media watcher.
1. MSNBC and CNBC
As two of the most well-known news channels, MSNBC and CNBC have been go-to sources for cable news and financial updates for decades. MSNBC, in particular, has a devoted audience for its progressive political coverage and influential hosts. CNBC, meanwhile, has long been the gold standard for business news. However, with more people consuming news on digital platforms, their viewership has seen some significant dips.
2. Oxygen True Crime
Oxygen, which Oprah Winfrey originally founded as a women’s lifestyle network, pivoted to a true crime focus in recent years. True crime shows and documentaries have skyrocketed in popularity on streaming platforms, so while Oxygen has enjoyed some success in this space, it’s competing with the likes of Netflix’s true crime documentaries and even TikTok sleuths. While Oxygen has a unique niche, keeping up with the competition in true crime streaming is a steep climb.
3. Bravo and E!
Known for reality hits like “The Real Housewives” and “Keeping Up with the Kardashians,” Bravo and E! are the reality TV stars of the cable world. Yet, with reality shows increasingly finding new homes on platforms like Netflix and Hulu, the days of Bravo’s dominance in reality TV may be numbered. Reality programming is extremely popular, but it’s also one of the most oversaturated genres. Bravo’s strategy could need a refresh if it wants to keep viewers hooked.
Liberal media outlets, particularly MSNBC, have been in “full meltdown,” since the re-election of Donald Trump last week, wrote The New York Post.
“MSNBC’s ‘Morning Joe’ co-anchor Joe Scarborough blamed Trump’s sweeping win on misogyny and racism from minority voters.
“Democrats need to be mature, and they need to be honest. And they need to say, ‘Yes, there is misogyny, but it’s not just misogyny from white men,’” Scarborough opined in the clip shared by the Daily Wire’s Ryan Saavedra.
‘It’s misogyny from Hispanic men, it’s misogyny from black men — things we’ve all been talking about — who do not want a woman leading them,’ the former GOP congressman from Florida insisted.
Scarborough, 61, also claimed that there ‘might be race issues with Hispanics that don’t want a black woman as president of the United States.’”
The news channel has gone on crazy rants over the past year, including criticizing baseball because it isn’t diverse enough and preventing Scarborough from hosting after the first Trump assassination attempt out of fear that he or other hosts might not condemn it.
Regarding the assassination attempt, a person familiar with the matter told CNN that “the decision was made to avoid a scenario in which one of the show’s stables of two dozen-plus guests might make an inappropriate comment on live television that could be used to assail the program and network as a whole. Given the breaking news nature of the story, the person said, it made more sense to continue airing rolling breaking news coverage in the fraught political moment.
After spiking on Election Day, Fox News noted, “MSNBC’s reliably liberal audience has tuned out the anti-Trump network since Election Day with a staggering 54% drop in primetime viewership.
MSNBC averaged 1.1 million viewers during the month of October but plummeted to an average audience of 736,000 on Wednesday, Thursday and Friday of last week following President-elect Donald Trump’s historic landslide victory over Vice President Kamala Harris. MSNBC’s remarkable 31% drop comes as Fox News Channel’s viewership grew by 61% over the same time period.
MSNBC also shed 26% of its year-to-date totals, but things got even worse in primetime.”
News that MSNBC may soon go up for sale comes as CNN will begin firing hundreds of their employees.
JUST IN: CNN will be firing hundreds of employees including some of their top stars according to Puck News.
The news comes as CNN’s Chris Wallace says he is not returning after his contract expires.
“In the next few months, I’m told, CNN will implement another round of layoffs… pic.twitter.com/oHn9uJVNL9
— Collin Rugg (@CollinRugg) November 12, 2024
“‘In the next few months, I’m told, CNN will implement another round of layoffs that will impact hundreds of employees across the organization,’ reporter Dylan Byers wrote Friday, according to The Daily Mail, referencing CNN’s recent 100-person layoff seen over the summer.
The fresh round of firings, the insiders said, will be more geared toward the production side of things.
As a result, reporters and correspondents will be required to cover their slack, they said – describing how on-air workers will be ‘asked to assume more of the responsibilities once handled by teams of producers and production assistants.'”
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