There was a sense of panic at MSNBC headquarters on Wednesday when Comcast, the parent company, confirmed a significant spinoff of its cable properties. The possibility of a name change for the left-leaning network was even hinted at by a top executive.
MSNBC personalities Rachel Maddow, Chris Jansing, and Katy Tur attended a 10 a.m. meeting held at 30 Rock in Midtown. The meeting was led by NBCUniversal chairman Mark Lazarus, who is set to oversee the new company, according to sources familiar with the matter.
According to sources, anxious staff members bombarded him with inquiries regarding potential job cuts, expressing concerns about whether the network would have to undergo rebranding, including changes to its name, logos, and headquarters. These worries arose following reports suggesting that the new entity might be separated from the robust reporting capabilities of NBC News.
According to insiders, Lazarus expressed uncertainty about whether the network would need to alter its identity or its physical location during a conversation with MSNBC staff members.
According to a source from MSNBC, there is a sense of panic among everyone as everything seems uncertain and unpredictable.
According to another source familiar with the situation, there seems to be a lack of clarity among people regarding what is happening. The recent election and the upcoming holiday season have left individuals feeling exhausted and focused on simply getting through this period.
MSNBC has chosen not to provide any comments on the matter.
The Trump team has rejected Joe Scarborough’s claim that the president-elect has concerns about the potential selection of Pete Hegseth as the Pentagon chief.
Comcast made an announcement on Wednesday that MSNBC, which is known for its talented anchors like Joy Reid and Lawrence O’Donnell, will be joining other channels such as CNBC, Oxygen, E!, SYFY, and the Golf Channel. This move comes as part of the creation of a new company called SpinCo.
Meanwhile, NBC News, NBC Sports, Telemundo, the streaming service Peacock, and Bravo will continue to be part of the NBC Universal family.
During “Morning Joe,” the co-host, Joe Scarborough, openly shared his concerns and anxieties about the upcoming meeting. He jokingly expressed his nervousness on air, saying, “We could all be fired a year from now.”
“When news like this breaks, the future becomes uncertain,” he expressed. Mika Brzezinski chimed in, saying, “You never know what tomorrow will bring.”
There is concern about how MSNBC will handle its coverage and whether there will be significant changes due to the heavy presence of NBC News-affiliated correspondents in its daytime schedule.
‘Morning Joe’ ratings plummeted after Joe Scarborough and Mika Brzezinski’s visit to Mar-a-Lago caused a frenzy among left-leaning viewers.
During the meeting, employees expressed their curiosity about MSNBC’s newsgathering process. They specifically asked Lazarus if there would be a need to start from the beginning and build a news verification unit from scratch.
During the meeting, Lazarus admitted that he was unaware of the exact details about SpinCo but compared it to a “well-funded start-up.”
During the meeting, Maddow warmly greeted Lazarus, expressing her appreciation for his presence on the first day. Although specific details were not provided, the source mentioned that Lazarus’ attendance was well-received.
Tur shared the same sentiment, expressing her fondness for the idea of a start-up that is well-funded.
The staff at MSNBC were addressed by Lazarus, and the president, Rashida Jones, expressed gratitude for his words. She acknowledged that change can be a complex process.
According to a source familiar with the matter, there seems to be a lack of certainty regarding the situation at hand. The source suggests that there is a one-year timeframe to resolve this issue.
Since Donald Trump defeated Vice President Kamala Harris on November 5th, MSNBC has witnessed a significant decline in its ratings.
According to Nielsen data, the anti-Trump network has seen a significant decline in viewership since Election Day. On average, it has only attracted around 550,000 viewers, which is a 39% decrease compared to its viewership in October. In primetime, MSNBC’s audience saw an even steeper decline of 53%, as reported by Nielsen.
According to an insider at MSNBC, there is a sense of anxiety among people, although it is unclear if it has increased significantly since the recent announcement. The source noted that the business is currently facing challenges and is not performing well.
According to the firm’s estimation, MSNBC’s viewership is projected to decline from 68.5 million in 2023 to an average of 61.3 million by the end of 2025.
At Fox News, the audience is steadily growing in the weeks following the election. The network has witnessed a remarkable surge, with its total day audience increasing by 38% and its primetime audience growing by 21%.
Comcast is now free from the burden of declining cable networks thanks to a tax-free spin-off. This enables Comcast to shift its focus to the Xfinity broadband service, as well as the various assets under NBCUniversal, including the NBC broadcast TV networks, film studios, theme parks, and streaming service.
According to supporters, SpinCo can utilize its annual revenue of $7 billion to reinvest in the cable networks and potentially attract investors or partners in the coming year when the separation takes place.
According to Comcast chairman and CEO Brian Roberts, the company’s assets, talented management team, and strong balance sheet make it possible to prepare these businesses for future growth. Roberts believes that with ample financial resources right from the start, SpinCo will be well-positioned for success and will be highly appealing to investors, content creators, distributors, and potential partners.
