Comcast has revealed plans to spin off its portfolio of cable networks, including CNBC, MSNBC, E!, Syfy, Golf Channel, USA, and Oxygen, into a separate entity. This announcement follows discussions from the company’s October earnings call, during which President Mike Cavanagh hinted at the creation of a standalone company for these networks. The new entity is expected to generate around $7 billion in revenue for the previous year. Mark Lazarus, NBCUniversal’s chairman of the media group, will lead the new company, with Anand Kini, NBCUniversal’s CFO, serving as its operating chief.