"This transaction positions both SpinCo and NBCUniversal to play offense in a changing media landscape," Comcast president Mike Cavanagh said. "Taken together, the entirety of NBCUniversal will be on a new growth trajectory, fueled by our world-class content, technology, IP, properties, and talent - all working in concert with each other as an integrated media company."
Comcast claims that, in the 12 months ending September 30, SpinCo generated around $7 billion in revenue, highlighting the potential of this new venture in an evolving industry.
However, Comcast believes that the new independent company, which it calls SpinCo, will have 'significant scale' and is well-positioned for success due to its portfolio of leading news, sports, and entertainment content.
On Wednesday, Comcast announced it is spinning off NBCUniversal's cable television networks into a separate publicly traded company, a strategy that could set a precedent for how other media companies treat their cable channels.
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