Panic At MSNBC As Parent Company Makes Major Announcement Involving The Network
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.
MSNBC faces declining viewership, which has worsened since Donald Trump defeated Kamala Harris in the November 5 presidential election.
According to Nielsen data, MSNBC has averaged 550,000 viewers since Election Day, a 39% drop compared to October. Primetime viewership fell 53%.
The ratings challenges mirror broader industry trends, with cable networks grappling with cord-cutting and a shift toward streaming platforms.
Market research firm Kagan projects that MSNBC will lose 10.5% of its subscribers between 2023 and 2025, dropping from 68.5 million to 61.3 million viewers on average.
Rival CNN has also experienced a significant decline, with a 22% drop in total day viewership and a 43% drop in primetime.
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.
