The $7 billion spinoff comes as traditional media companies grapple with the diminishing value of what was once an economic pillar of the entertainment business.

Comcast is spinning off many of NBCUniversal’s cable television networks, including USA Network, CNBC and MSNBC, into a separate public company

Comcast would retain NBCUniversal's NBC broadcast television network, its film and television studios and its theme parks, as well as its Peacock streaming service.