MSNBC staff and executives are grappling with significant uncertainty following Comcast’s announcement on Wednesday of a major spin-off of its cable properties into a new company, SpinCo.
The restructuring has sparked concerns over potential layoffs, changes in branding, and the network’s separation from NBC News, which currently provides much of MSNBC’s reporting and newsgathering resources.
The announcement led to a tense meeting at MSNBC’s 30 Rock headquarters in Midtown Manhattan, where NBCUniversal Chairman Mark Lazarus, who will lead SpinCo, addressed staff concerns.
Prominent MSNBC figures, including Rachel Maddow, Chris Jansing, and Katy Tur, attended the meeting.
“Everyone is in a panic because everything is up in the air,” one MSNBC source told The Post. Employees pressed Lazarus with questions about whether the network’s name, logos, or headquarters would need to change under the new structure.
Lazarus admitted that many details remain undecided, saying, “I don’t think anyone knows anything,” according to those in attendance.
Rachel Maddow expressed cautious optimism during the meeting, saying, “It’s great to have you here on day one.” Katy Tur echoed her sentiments, adding, “I like the sound of a well-funded start-up.” Lazarus likened SpinCo to such a venture, calling it a “well-funded start-up” with significant resources to manage the transition.
The spin-off separates MSNBC from NBC News, NBC Sports, Telemundo, Bravo, and streaming platform Peacock, which will remain under the NBCUniversal umbrella.
MSNBC will join CNBC, Oxygen, E!, SYFY, and the Golf Channel as part of SpinCo, a company with an estimated $7 billion in annual revenue.
The move raises questions about MSNBC’s ability to maintain its journalistic standards without the support of NBC News.
Employees asked whether a new unit for verifying news would need to be “built from scratch.”
Lazarus acknowledged the challenge but emphasized SpinCo’s financial resources to address these issues.
In contrast, Fox News has seen growth, with a 38% increase in total day audience and a 21% rise in primetime viewership following the election.
Comcast’s decision to spin off its cable properties into SpinCo allows the parent company to focus on its Xfinity broadband service, NBC broadcast networks, Universal Studios, and Peacock.
Comcast Chairman and CEO Brian Roberts highlighted the benefits of the move, saying, “With significant financial resources from day one, SpinCo will be ideally positioned for success and highly attractive to investors, content creators, distributors, and potential partners.”
The spin-off is expected to be completed within a year, with proponents arguing that the restructuring will enable SpinCo to reinvest in its networks and attract new opportunities for growth.
