A day after Comcast has confirmed that it will spin off NBCUniversal’s cable networks into a separate entity, Fox Entertainment and Hulu have announced the renewal of a multiyear content deal, which sees all Fox primetime entertainment programming continue to stream on Hulu the next day following linear telecast through 2029. The deal is valued at over $1.5 billion.
Comcast cable networks to be spinned off include USA Network, CNBC, MSNBC, Oxygen, E!, SYFY, and Golf Channel. Peacock streaming service, NBC News, the NBC broadcast network, and the Bravo channel will remain under the parent company.
The new company, temporarily called SpinCo, will be headed by CEO Mark Lazarus, NBCUniversal Media Group chairman.
“As a standalone company with these outstanding assets, we will be better positioned to serve our audiences and drive shareholder returns in this incredibly dynamic media environment across news, sports, and entertainment,” Lazarus said. “We see a real opportunity to invest and build additional scale and I’m excited about the growth opportunities this transition will unlock.”
Leave A Comment