Comcast to spin off cable networks, once star performers at the entertainment giant

Comcast will spin off many of NBCUniversal’s cable television networks, including USA Network, CNBC and MSNBC, into a separate public company. The shift, which comes as more and more people opt for streaming services over traditional cable, was telegraphed by the company when it released its most recent earnings last month. Mark Lazarus, current chairman of NBCUniversal Media Group, will serve as the new entity’s chief executive officer.