Comcast’s SpinCo Scouting New Manhattan HQ, Close to Naming as Split Looms

A major aggregate of cable networks soon to become an independent public entity is actively exploring options for a new headquarters in Manhattan. This location will house its corporate divisions, select entertainment units, and MSNBC, which includes both a New York studio and a production facility.

Revealed last year and officially announced in November, this new venture is spearheaded by NBCUniversal Media Group’s Mark Lazarus. He recently briefed the staff about preliminary plans through a memo that Deadline had access to. Sources indicate that multiple headquarters sites are currently being evaluated.

The existing CNBC headquarters in Englewood Cliffs will continue to function as such and will also host the technical operations for this new company. Additionally, a dedicated space at 400 North Capitol will remain as the DC Bureau for both MSNBC and CNBC.

Currently referred to as SpinCo, the new entity will soon be renamed, according to Lazarus—“We’re closing in.” It encompasses NBCUniversal’s cable channels such as USA Network, CNBC, MSNBC, Oxygen, E!, SYFY, and Golf Channel, along with digital platforms like Fandango, Rotten Tomatoes, GolfNow, and Sports Engine, as part of a tax-free spin-off. Bravo, NBC, and the streaming service Peacock will continue to be part of Comcast, along with Telemundo, the broadband operations, theme parks, experiences, and film and TV production studios.

This spin-off is among the most noteworthy transactions in the TV industry, especially with the ongoing significant declines in linear viewership. It positions the cable enterprise, which generates approximately $7 billion in annual revenue, to pursue potential acquisitions or other strategic opportunities.

In a similar development, Warner Bros. Discovery is restructuring into two sectors: Global Linear Networks and Streaming & Studios.

Comcast’s leadership, featuring Chairman-CEO Brian Roberts and President Mike Cavanagh, announced on November 20th that they aim to complete the separation within a year.

Full memo:

Team,

It’s been roughly four months since we first unveiled our plans to establish a new company. Behind the scenes, our teams have been diligently preparing for a seamless transition. I’m thrilled to update you today on our upcoming facilities in New York and New Jersey.

To ensure comprehensive communication, this message is being sent across various departments that will soon be integrated into our new entity post-spinoff from NBCU. As we transition into a distinct employee group, our communication may occasionally overshoot or fall short, so please feel free to contact me, your manager, or HR representative with any questions, or refer to the Internal Resource Site for FAQs that might be helpful.

I’m excited to announce that we are in the process of selecting a location for our company’s main office in Manhattan. This facility will host our corporate teams, some entertainment divisions, and MSNBC, including its New York studio and production capabilities. Englewood Cliffs will remain the base for CNBC and evolve into the technical operations center for our new enterprise. We have also secured dedicated space at 400 North Capitol, which will continue serving as the DC Bureau for MSNBC and CNBC. We intend to maintain offices in various other cities where we currently operate, and will share further details as they become available.

Technical staff supporting MSNBC may be stationed in New York, Englewood Cliffs, the DC Bureau, or other locations. Specific details regarding job relocations will be communicated in the coming weeks.

We are committed to ensuring that each site is established swiftly and functions efficiently, though this will require some time. It’s likely that our headquarters will initially operate from a temporary location in Manhattan upon the completion of the spinoff.

I’m incredibly enthusiastic about the future— including the forthcoming name of our company. More importantly, I am grateful for your ongoing patience during this period. We may not have all the answers just yet, but rest assured that updates will be provided as they become available.

Mark