In a strategic move, Comcast is set to separate several of NBCUniversal’s cable television networks, such as USA Network, CNBC, and MSNBC, creating an independent public company.

This transition is in response to the growing trend of viewers leaning towards streaming services over traditional cable television, a shift that was hinted at during the company’s recent earnings release.

Mark Lazarus, who is currently chairing NBCUniversal Media Group, will take the role of CEO for the new company after the separation.

Lazarus expressed optimism about the future, stating, “As a standalone company with these outstanding assets, we will be better positioned to serve our audiences and drive shareholder returns in this incredibly dynamic media environment across news, sports and entertainment.” This announcement came on Wednesday.

Comcast anticipates completing the spin-off within a year, although this timeline is contingent on receiving approval from the board, securing financing, and obtaining necessary regulatory clearances.