NBC News laid off around 150 employees on Wednesday ahead of its parent company, Comcast Corporation, spinning off certain cable networks, according to reports.
Comcast approved a $7 billion spinoff of its NBCUniversal channels — including MSNBC, CNBC, E! and SyFy — in November as ratings plunged following the 2024 election. The layoffs represent about 2% of the NBC News division, according to the reports.
The layoffs are part of a cost-cutting agenda ahead of the spinoff, Bloomberg reported, citing an individual familiar with the situation. The new publicly traded company spun off by Comcast NBCUniversal will be called Versant.
NBC News did not respond to the Daily Caller News Foundation’s request for comment.
MSNBC will change its name to My Source News Opinion World (MS NOW) during its spinoff, The Wall Street Journal first reported in August. MSNBC will also shed its peacock brand logo as part of an effort to distinguish itself from NBC News.
Comcast announced the spinoff after MSNBC’s ratings declined 53% shortly following the 2024 election, but the network has since seen fluctuations in viewership.
NBC, Bravo and the Peacock streaming service will remain under Comcast and NBCUniversal. The spinoff is anticipated to be finalized by the end of 2025, according to Bloomberg.
Paramount also intends to cut thousands of jobs following its August merger with Skydance, according to Bloomberg.
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