On November 20, 2024, Comcast Corporation announced plans to spin off NBCUniversal’s cable networks, including CNBC, MSNBC, and SYFY, along with digital assets like Fandango and Rotten Tomatoes, into a new publicly traded company, SpinCo. Generating US$7 billion in revenue over the past year, SpinCo will focus on news, sports, and entertainment, reaching 70 million U.S. households.

Comcast and NBCUniversal have significant operations in Canada, including partnerships with Rogers Communications to bring Xfinity products and NBCUniversal content to the Canadian market.

SpinCo will be led by Mark Lazarus as CEO and Anand Kini as CFO and COO. The transaction, expected to complete in 2025, is subject to regulatory approvals. Advisors include Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and Davis Polk & Wardwell LLP.