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

Cable television has long been viewed as a stagnant business, showing little promise for growth over the years. However, Comcast believes it has found a Comcast is spinning off NBCUniversal’s cable television networks into a separate publicly traded company.

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 said on Wednesday that it plans to spin-off the bulk of its fading NBCUniversal cable TV networks, including MSNBC and CNBC, as the company said it is repositioning itself for growth in the streaming era.

In a move that could portend more changes in the declining business of traditional television, Comcast, the parent company of NBC, announced plans on Wednesday morning to break off several of its cable channels and put them into a separate company.

The new publicly traded company is set to debut next year, with a bundle of channels that also includes Oxygen, E! and Syfy.

Comcast will spin off many of its cable television networks that were once at the heart of the entertainment giant as people increasingly swap out their cable TV subscriptions for streaming platforms.

Comcast is carving off most of its cable channels. Will its new spinoff be a hunter or prey? The media giant last week put an upbeat spin on its move to shed what Wall Street sees as an albatross - the bulk of NBCUniversal's cable networks,