CNBC Anchors Navigate the Uncertainty of Comcast's Network Spinoff

Anchors' Initial Reactions

CNBC anchors projected an air of mild panic when news broke of Comcast's plan to spin off the network. As the media conglomerate announced the creation of a new entity for most of its cable networks, some NBCU insiders began to worry about the prospects and potential staff cuts. Joe Kernan, a coanchor of "Squawk Box," quipped on air, "We're going out into the cold, cruel world." This lighthearted comment masked the underlying anxiety among the anchors.

David Faber, another CNBC anchor, came up with an analogy to describe the situation. He said, "We've been on a life raft, and it's kind of been sinking. Now we're all going to be able to swim for ourselves, you know, so it's up to us." This analogy highlighted the sense of uncertainty and the need for the anchors to adapt to the changing landscape.

The Impact on the Cable Business

It's no secret that the cable business has been in decline as viewers shift towards streaming services. This spinoff is seen as a response to this trend, with Comcast aiming to grow its remaining businesses while enabling the spun-off networks to consolidate with others. Bravo, home to the "Real Housewives" franchises and other reality fare, will remain part of NBCU, along with its film and TV studios, the Universal theme park, the NBC broadcast network, and the streaming service Peacock.

Analysts have been quick to weigh in on the significance of the spinoff. Rich Greenfield, a cofounder of LightShed Partners, said during a CNBC segment, "This is them saying we no longer want to be in this business, this is no longer a growth business." For CNBC specifically, the question remains whether these networks can stand on their own.

Questions and Concerns for CNBC Staff

Among the CNBC staff, there are many questions and concerns about the spinoff. One question is whether they will maintain the prestige and workplace benefits that came with being part of Comcast. There's also a concern about how separating MSNBC could impact NBC News and local NBC stations. MSNBC's left-leaning tilt has sometimes complicated things for straight news-focused NBC News and local NBC stations.

Anxiety was running high among some staffers in London, who worried that international offices could be hit first by any cuts in shows or personnel. These staff members spoke on the condition of anonymity for fear of workplace repercussions. Their identities are known to Business Insider.

One NBC News staffer told BI that some in the newsroom felt "blindsided" by the news. "The message has been to integrate as much as possible, so I definitely think this raises a lot of questions about whether that can continue," this person said.