The preferred source of news media for Americans is rapidly shifting away from cable television.
The so-called legacy media is about to take an even bigger hit.
And Jen Psaki could land in the breadline after getting hit with this brutal news.
Comcast announces massive sell off of its cable interests
Cable TV is no longer the thriving business that it once was as most Americans have begun showing great interest in streaming and podcasts to get their information.
Subscriptions behind cable television hit their high water mark in 2012, but have been dropping over year in, year out since.
Now, some of the most well known cable channels are potentially staring into the abyss that is their future when Comcast made the announcement that they plan to sell off their NBCUniversal division.
This decision would directly impact the cable networks within this organization, including USA, CNBC, MSNBC, Oxygen, E!, SYFY, and the Golf Channel.
The decision comes following an unbroken string of failing ad sales, causing a massive drop in revenue for Comcast.
NBCUniversal chairman Mark Lazarus delivered the painful news to MSNBC’s ‘star’ lineup Rachel Maddow, Chris Jansing, and Katy Tur that there were some massive changes on deck for the far-Left cable fake news network.
When the spinoff takes place – if preserved – MSNBC may be forced to change their name as well, since NBC and NBC News will remain with Comcast.
MSNBC was the product of a joint venture between Microsoft and NBC that was launched in 1996 – hence the name MSNBC,
However, in 2005, Microsoft sold off all of their interests in the TV network, which was followed by a 2012 decision to pull any investments they had in MSNBC.com.
Ross Benes, a principal analyst for eMarketer, claimed that Comcast’s decision was financially smart, because it would allow the company to focus more on providing internet and streaming services.
“Comcast profits are driven by its internet service provider (ISP) side,” noted Benes. “Dividing the TV networks from the rest of the company will allow Comcast to more clearly show growth in its ISP business.”
All hell breaks loose at MSNBC over their future
NBC performs a lot of the legwork for MSNBC as far as newsgathering goes, alongside sharing their list of contributors.
The decision to sell off MSNBC is expected to cause distress and turmoil at the leftist-controlled media company, as they figure out how to keep the organization alive.
One MSNBC source told the New York Post that those who work for the cable network have broken out into full blown “panic” following Comcast’s announcement.
“Everyone is in a panic because everything is up in the air,” explained their source.
“People don’t really know what’s going on,” said another voice from MSNBC. “They had the election, holidays are coming up. People are tired and just trying to get through.”
On a recent episode of MSNBC’s Morning Joe, host Joe Scarborough didn’t shy away from cracking a joke about his uncertain future, claiming he could be fired at any moment.
“We could all be fired a year from now,” jokingly snubbed Scarborough. “When this happens, you never know what’s going to happen.”
Mika Brzezinski added to the concern by suggesting, “or tomorrow.”
The process of selling off these cable entities could take well over a year to be finalized.
And MSNBC’s future appears dim considering their ratings collapsed following President-elect Donald Trump’s sweeping victory over Vice President Kamala Harris on Election Day.
According to the renowned ratings company Nielsen, MSNBC lost 53% of their viewers following the election.
“People are anxious but I’m not sure they’re more anxiety-ridden than they were five minutes before this announcement,” one source at MSNBC shared. “The business is not doing well.”
Between the freefall collapse in ratings and the announcement of the selloff, MSNBC could become something entirely different once the dust settles.
