US media giant Comcast is set to spin off its NBCUniversal cable television arm, as the industry continues to struggle with the emergence of streaming giants like Netflix and Amazon Prime. The plan, formally announced on Wednesday, is to create a new company that will include channels such as MSNBC, CNBC, USA, E!, Syfy and the Golf Channel.

Now, MSNBC is being upended by the very technology it first embraced, with streaming video now accounting for nearly half of all TV viewing, according to Nielsen. The decline of pay TV has culminated in Comcast placing MSNBC — along with sister networks such as CNBC and E!