Comcast’s cable channel shake up could have industry wide ripple effects. Plus, Donna Langley is promoted to Chairman of NBCUniversal.

Comcast said on Wednesday that it plans to spin-off the bulk of its fading NBCUniversal cable TV networks, including MSNBC and CNBC, as the company said it is repositioning itself for growth in the streaming era.

Cable television has long been viewed as a stagnant business, showing little promise for growth over the years. However, Comcast believes it has found a Comcast is spinning off NBCUniversal’s cable television networks into a separate publicly traded company.

As the financial vlaue of cable television drops, expected, Comcast, as expected, announced they were spinning off a number of cable networks into a new company

The new publicly traded company is set to debut next year, with a bundle of channels that also includes Oxygen, E! and Syfy.

Comcast will spin off many of its cable television networks that were once at the heart of the entertainment giant as people increasingly swap out their cable TV subscriptions for streaming platforms.

Comcast's cable channel spinoff plan is prompting a restructuring that will give NBCUniversal Chief Content Officer Donna Langley more turf and a new home for longtime executive Mark Lazarus.