On Wednesday morning, the media giant confirmed that it is spinning off most of its cable channels, including MSNBC and CNBC, into a separate publicly traded company. The new company doesn’t have a formal name yet — Comcast is simplycalling it “SpinCo” — a suitable label since employees’ heads are spinning with questions.

As the financial vlaue of cable television drops, expected, Comcast, as expected, announced they were spinning off a number of cable networks into a new company

US media and telco giant Comcast is to spin off its NBCUniversal cable television networks into a separate, publicly traded company.