By Chris Wack
Comcast said David Novak will become chairman of the board of directors of its planned spinoff of select media brands and digital businesses.
Novak, who previously served as chairman and chief executive of YUM! Brands, will be leading an independent media company comprised of cable channels including USA Network, CNBC and MSNBC, plus several digital brands.
Comcast announced the spinoff in November, saying the portfolio would be better positioned as an independent company to pursue long-term growth.
Novak also is the founder and CEO of David Novak Leadership, a digital leadership development platform.
The assets making up the spinoff company are expected to generate $7 billion in revenue annually. Novak will formally assume the role upon completion of the spinoff, at which time he will vacate his current position on Comcast's board, which he has held since December 2016.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 19, 2025 13:17 ET (17:17 GMT)
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