Discovery potentially looking to shed or partner on cable nets, to name a few possibilities.
Shares of WBD and AMC are higher.
Matt Strauss will become chairman of the NBCUniversal Media Group.
Comcast NBCUniversal building at Universal Studios film and television production studiosGetty Images
They will be run as per above by some of NBCUs most respected executives.
The decision comes as streaming has upended entertainment, eroding the reach of linear television.
Paramount Global and Warner Bros.
Discovery took massive, multi-billion dollar hits this summer to write down the value of their cable assets.
Now announced, the spin-off is a complicated process that should be complete by the end of 2025.
SpinCo will have the same dual-class share structure as Comcast.
It doesnt anticipate any change to its credit profile or ratings as a result.
Namely, if SpinCo wants to beef up by acquiring more cable networks it can without upsetting Comcast investors.
Roberts said Comcasts effort to launch SpinCo as a successful public company will be done well versus done quickly.
