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.

Bravo, the NBC broadcast network and the Peacock streaming service are among the assets expected to remain part of Comcast. Mark Lazarus, the current chair of the NBCUniversal Media Group, is expected to lead the new company, according to the Journal and CNBC, and the process is expected to be completed in about a year.

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.