Panic spread through MSNBC headquarters on Wednesday when parent company Comcast confirmed sweeping changes to its cable properties — with a top executive even suggesting the left-leaning network could be forced to change its name. Is.
msnbc stars Rachel MaddowChris Jansing and Katy Tur attend a tense meeting at 10 a.m. at 30 Rock in Midtown led by NBCUniversal president Mark Lazarus, who will lead new companysources told The Post.
Employees are afraid of layoffs The sources said they were asked questions about whether the network would need to change its name, logo and headquarters and whether the new entity could be separated from NBC News’ reporting strengths after the report emerged.
According to insiders, Lazarus told MSNBC staff that he was not sure whether the network would have to change his identity or his home.
“Everyone is in a panic because everything is up in the air,” an MSNBC source told The Post.
Another insider close to the network said: “People don’t really know what’s going on. It was their election, holidays were coming. “People are tired and just trying to get out of there.”
MSNBC declined to comment.
Comcast It was announced on Wednesday that MSNBC – House of Anchors which includes joey reed and Lawrence O’Donnell – will join CNBC, Oxygen, E!, SYFY and Golf Channel as part of a new company called SpinCo.
Meanwhile, NBC News, NBC Sports, Telemundo, streaming service Peacock and Bravo will remain under the NBC Universal umbrella.
Joe Scarborough, co-host “Morning Joe” expressed its concerns During “Morning Joe” before the meeting, joking nervously on air: “A year from now we could all be fired.”
“When that happens, you never know what’s going to happen,” he told his Kiss co-host about the news. mika brzezinski Added: “Or tomorrow.”
It is expected to take about a year to shut down the cable properties, which are facing declining viewership despite still being profitable.
The possibility of separation from NBC News has raised fears among the company’s journalists because MSNBC and CNBC regularly share reporting and contributors, among other things.
more than msnbc daytime program For example, NBC is filled with News-affiliated reporters, which has raised concerns about how the network will manage its coverage and whether there will be any major turmoil as a result.
Sources said staffers at the meeting inquired about MSNBC’s news gathering process, and asked Lazarus whether a unit would have to be “created from scratch” to verify news.
Lazarus said he didn’t know, but he compared Spinco to a “well-funded start-up,” according to people present at the meeting.
A source said that despite the lack of details, Lazarus’s presence was welcomed, with Madow saying at the meeting: “It’s great to have you here on the first day.”
Toor echoed the same sentiment, saying he “likes the sound of a well-funded start-up.”
MSNBC president Rashida Jones thanked Lazarus for addressing the staff, before telling him that “change is always complicated.”
“I don’t think anyone knows anything,” said a source close to the situation. “I think they have a year to figure it out.”
MSNBC has seen ratings decline since Donald Trump defeated Vice President Kamala Harris on November 5.
is a staunchly anti-Trump network an average of about 550,000 According to Nielsen data, viewership since Election Day is down 39% compared to its viewership in October. According to Nielsen, MSNBC’s audience in primetime declined 53%.
“People are worried but I’m not sure they’re any more worried than they were five minutes before this announcement,” one msnbc insider Said. “Business is not doing well.”
Like other cable networks, MSNBC is facing major business challenges, including cord-cutting as more subscribers choose to receive news via streaming.
MSNBC is projected to lose about 10.5% of its subscribers between the end of 2023 and the end of 2025, according to estimates from Kagan, a market-research firm that is part of S&P Global Intelligence.
The firm estimates that MSNBC could have an average of 61.3 million viewers at the end of 2025, up from 68.5 million in 2023.
Rival CNN experienced a similar decline, averaging 413,000 viewers, or a 22% decline from its October average. Primetime viewership fell 43%.
Fox News, meanwhile, has seen viewership steadily increase in the weeks following the election. The network’s total daytime audience increased by 38% and its primetime audience increased by 21%.
For Comcast, a tax-exempt spin-off frees it from the declining cable network. Comcast can focus on its Xfinity broadband service as well as NBCUniversal’s NBC broadcast TV network, movie studios, theme parks, and streaming service.
supporters of Spinco says the cable network The cable could use its reported $7 billion annual revenue to reinvest in the network and potentially attract investors or partners if the separation occurs next year.
“When you look at our assets, talented management team and balance sheet strength, we are able to position these businesses for future growth,” said Brian Roberts, Comcast Chairman and CEO. “With significant financial resources in place from day one, Spinco will be ideally positioned for success and will be highly attractive to investors, content creators, distributors and potential partners.”
