Comcast Corp is planning to spin off a large part of its NBCUniversal’s cable TV channels into a separate publicly traded company (SpinCo).

With streaming ads poised for rapid expansion, the move will hasten advertisers’ exodus away from cable almost altogether.

Comcast may be proceeding with a transaction as a signal to the rest of the media industry that consolidation is necessary.

Comcast is spinning off into a new company many of its cable television networks that were once at the heart of the entertainment giant, as consumers increasingly swap out their cable TV subscriptions

Comcast's decision to spin off cable networks like MSNBC and CNBC aims to free up cash, but may invite more competition. Read why CMCSA stock is a Sell.

Bravo stays with NBC, but other longtime cable networks such as E!, USA and MSNBC will be part of a new company.