Posted on 11/19/2024 4:13:27 PM PST by abb
New venture will house channels like E!, USA and MSNBC; company to announce several leadership changes
(Excerpt) Read more at wsj.com ...
Who watches any of that rubbish?
https://variety.com/2024/tv/news/comcast-massive-cable-spin-off-separating-usa-msnbc-1236214865/
https://www.cnn.com/2024/11/19/media/comcast-nbcuniversal-cable-spinoff-msnbc/index.html
which is why advertisers are leaving in wholesale numbers.
this link should get you around the WSJ paywall.
“rubbish”
That word came into my mind as I pondered a city dump and MSNBC together.
City official in charge of the dump: “Hey. We have standards here. We won’t take MSNBC.”
Someone I knew back when the internet was young wanted to donate his three year old computer to a Catholic school. He said the nuns refused it because it was below a certain version.
“So you literally can’t give it away.”
Dumping it on a roadside or field was illegal even then and you had to pay a fee for legally disposing of one, as now.
That’s like buying three betamax players.
You’ve swerved into what may have actually happened here. When Comcast/Universal announced their quarterly earnings about 3 weeks ago, it was announced that they were contemplating a spinoff, sale, or ‘something’ with their cable channels.
Could be they were entertaining offers to buy the stuff. Hmmmm... no buyers. So now they will pull all the rotten apples in one basket, and let it fend for itself.
When this new “company” starts trading on the stock exchange, it may sell for $5/share. If they’re lucky.
Would be something if this IPO was shorted from Day One...
Such good news.
Imagine getting stuck with salaries such as Rachel Madcow’s
$30 Million a year.
Jen Psaki $5 million a year. Net worth is $18 million.
Laurence O’Donnell $4 million a year.
Chris Hayes $2 million.
Nicole Wallace two numbers cited $1 million and $2 million a year.
We will get an idea of how much equity value has been vaporized for shareholders of of CMCSA (Comcast/Universal) stock when they have to write down the value of the spinoff.
You remember when AT&T spun off Warner Brothers a couple of years ago? IIRC, the charge was about $50 billion.
which is why advertisers are leaving in wholesale numbers.
Big Pharma ads have been keeping them afloat.
Could be this is why Joe and Mika are flailing around like drowning rats. Their whole world is folding in on them.
That’s one IPO I wouldn’t want to touch.The investment bankers, lawyers, and advisors should make out OK, however.
But think of all the goodwill they got when they shed CNN.
Good points.
I still hold a grudge that Newsweek is dragging along with a print edition (at places like Barnes and Noble but almost no drug stores and discount stores) and an online version that is quoted with anti-Trump vitriol nearly every day somewhere.🚽🧻🧻
Story:
The Washington Post Company, which had owned Newsweek since 1961, put the magazine up for sale after years of losses.
Newsweek was sold to audio pioneer Sidney Harman for $1 in August 2010. He assumed the large debts of the magazine as part of the agreement.
Today: Trump Military Plan Trashed by General.
Yesterday: Some political experts have questioned exactly how large a “mandate” President-elect Donald Trump has, despite his claims to the contrary.
Comcast Stock Climbs on Anticipation of $7B Spinoff of NBCUniversal Cable Networks
By Kara Greenberg
Published November 19, 2024 - 07:37 PM EST
Comcast (CMCSA) shares gained in extended trading Tuesday following a report the entertainment and media conglomerate is expected to announce plans Wednesday to spin off its NBCUniversal cable TV networks.
The move could mean the separation of assets including channels like MSNBC and USA that together generated about $7 billion in revenue in the 12 months ended Sept. 30, the Wall Street Journal reported, citing people familiar with the matter.1
The spinoff, which is expected to take about a year to complete, could help streamline the entertainment giant’s operations, and better position NBCUniversal’s remaining assets for growth.
Comcast had acquired a 51% stake in NBCUniversal in 2011, before buying the rest of NBCUniversal for $16.7 billion in 2013.2
Mark Lazarus, current chair of NBCUniversal Media Group, is expected to be named CEO of the new company.
Shares of Comcast climbed close to 3% in extended trading Tuesday following the news. They were down about 3.5% from the start of the year through Tuesday’s close.
I have fond memories of my betamax. Yeah I know it lost to VHS which was eventually displaced by dvd which are now displaced by streaming but I thought my sony betamax was very cool at the time.
RE:
Joe and Mika are flailing around like drowning rats. Their whole world is folding in on them.
True of the leftist media in a world that left them behind to vote for Trump.
https://www.youtube.com/watch?v=aW3-E3My-kc
some do... Golf Channel is part of the carve out package..
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