Source: The Patriot Light | AWK Network | VIEW ORIGINAL POST ==>
You know the old business expression, “Buy low, sell high?” Comcast is so desperate to get rid of its cable properties — including MSNBC — that it might be willing to turn that expression on its head.
Cable giant Comcast got into the content game in 2011 with its purchase of a 51% stake in NBCUniversal from GE for $13.8 billion. NBCU included NBC, MSNBC, Telemundo, Bravo, USA, and other channels. (Do we still call them channels?) In 2013, Comcast bought the remaining 49% for a whopping $16.7 billion. In two years, the value of NBCU increased by roughly 10%. That’s not too shabby for a collection of established media properties.
Before the election, Comcast said that it was looking to get rid of its NBCU properties. Comcast-owned CNBC reported last month that “the logic for Comcast is fairly straightforward” because “NBCUniversal’s cable networks aren’t growing anymore.” The business news network concluded, “Carving out the cable portfolio could placate Comcast investors by removing declining assets from the balance sheet.”
After the election, Comcast made it official today that they’re spinning off NBCU.
There’s one teensy little problem:
MSNBC…
Read the full article here
