Comcast is spinning out Rotten Tomatoes and cable networks into a separate company
SMRTR summary
Comcast is creating a new company by spinning off several NBCUniversal cable networks, including USA Network, CNBC, MSNBC, and others. The new entity will also include Rotten Tomatoes and Fandango. This tax-free spin-off is expected to boost Comcast's revenue growth. The separated properties generated around $7 billion in revenue over the past year. Comcast aims to complete this transition within the next 12 months, while retaining other NBCU operations like NBC, Peacock, and theme parks.
SMRTR provides this summary for quick context. The original article belongs to Engadget.
Read the original article