Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service Peacock and the cable channel Bravo. “The transaction will be structured as a tax-free spin to existing shareholders,” Comcast President Mike Cavanagh said in an internal memo. “While we don’t have a precise timetable for completing the transition, we are estimating that it will take approximately a year.” Comcast owns NBCUniversal, the parent company of NBC News. The move comes as the traditional cable television bundle faces stiff economic headwinds, most notably the rise of cord-cutting and the shift to streaming alternatives. Comcast’s cable portfolio still contributes to its financial bottom line and helps expand…
