Comcast is expected to announce a plan Wednesday to spin off its cable networks into a separate company, two people familiar with the matter told NBC News.

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,

Comcast said on Wednesday it plans to spin off some NBCUniversal cable TV networks, as the rise of streaming prompts the media company to relinquish some of its most prized assets.

Comcast, the media conglomerate that owns NBC News, announced a plan to spin off most of its cable television networks into a separate publicly traded company.

Media giant Comcast is expected to announce Wednesday that it is spinning off many of its cable channel assets out of NBCUniversal, leaving it with more profitable NBC News and a handful of other outlets.

Apart from MSNBC, Comcast is reportedly planning to spin off CNBC, USA, Oxygen and E!, among other channels. Those channels

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