(Crankers) I wonder if the election results or bad ratings had something to do with this. CNN is facing layoffs and staffers are wondering who’s next to get axed. And Comcast is spinning off MSNBC and several other channels into their own branch. Wondering why? Let’s see what the news reports said.
A report on MSN said this about the CNN layoffs: “The CNN source indicated that the layoffs would be implemented “by March” and that they’ll be “very meaningful” to the rank and file at the network. “It’s a time of a complete and utter business model overhaul and chaos. Extremely difficult even under the best circumstances,” the CNN staffer said.”
Shaking up the rank and file? How about getting rid of all the bad hosts, like Brian Stelter, and keeping more people like Scott Jennings. Guys like Stelter are just awful for the media in general. It’s funny that Stelter hosts a show called “Reliable Sources” and he’s not a reliable source. That should be a prerequisite to being the host, don’t ya think?
Comcast’s announcement says they’re going to spin off many of the cable television networks into a separately traded public company. That new company will have CNBC, MSNBC, USA Network, Oxygen, E!, SYFY, and the Golf Channel. Comcast plans to keel NBCUniversal things such as the NBC broadcast network, NBC Sports, NBC News, Peacock, and Bravo. It’s unclear how they decided which ones to keep or spin off. A report on NBC News said the following about the spin offs:
“The transaction will be structured as a tax-free spin to existing shareholders,” Comcast President Mike Cavanagh said in an internal memo. “While we don’t have a precise timetable for completing the transition, we are estimating that it will take approximately a year.”
Comcast owns NBCUniversal, the parent company of NBC News. The move comes as the traditional cable television bundle faces stiff economic headwinds, most notably the rise of cord-cutting and the shift to streaming alternatives. Comcast’s cable portfolio still contributes to its financial bottom line and helps expand its cultural footprint.
So once again, I wonder if these moves are impacted by ratings and how much it ties into Donald Trump winning the election. The timing is quite interesting, so all kinds of speculation are happening. What do you think?