Comcast is spinning out Rotten Tomatoes and cable networks into a separate company

Comcast is spinning out Rotten Tomatoes, Fandango and a bunch of NBCUniversal (NBCU) cable networks into a separate company. That means USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel will soon have a new home. Comcast is hanging onto other NBCU operations, namely NBC, Peacock, film and TV studios, Telemundo and theme parks. Bravo is also sticking around to help keep feeding Peacock's ever-hungry reality TV maw. Comcast says the new entity will be a "tax-free spin-off" and the step is "expected to be accretive to revenue growth at Comcast and approximately neutral to Comcast's leverage position."