- Incoming boss Mark Lazarus addressed the CNBC newsroom Thursday.
- The day before, CNBC anchors had made bleak jokes on-air about Comcast’s spinoff plans.
- Three CNBC staffers told BI the mood inside the company seemed upbeat during Lazarus’ visit.
In a meeting at CNBC headquarters in New Jersey on Thursday afternoon, incoming boss Mark Lazarus presented a bullish view of the future after the bombshell news that Comcast would spin off the network.
Three CNBC staffers told Business Insider they felt Lazarus’ optimistic talk landed well in the newsroom. They asked for anonymity to discuss internal meetings. Their identities are known to BI.
The vibe was a bit of contrast to Wednesday, when Comcast announced plans to spin off most of its NBCUniversal cable TV networks — including CNBC — into a separate public company called SpinCo (for now). On Wednesday, CNBC anchors shared some worries and dark humor on-air, with “Squawk Box” coanchor Joe Kernan quipping, “We’re going out into the cold, cruel world.”
Lazarus, who will be SpinCo’s CEO, addressed a packed newsroom Thursday at CNBC and didn’t hold a Q&A, though he mingled with staff and took questions one-on-one afterward. While speaking with staff, Lazarus said the new company would keep the money generated by its properties and pursue other M&A targets, describing it as entrepreneurial and flexible, one CNBC staffer said.
Lazarus said SpinCO “would be a predator, not prey” and examine various targets “like digital businesses and IP,” a second CNBC staffer recalled.
A third staffer said Lazarus talked about the SpinCo having the ability to invest in its cable networks, giving the example of the Golf Channel as one that’s thrived digitally.
The first staffer said that after the meeting, talks in the hallway seemed upbeat. That said, CNBC has undergone several rounds of layoffs over the past year, they added.
“People felt better than they did when it first started,” the third staffer said. “The plan isn’t just to dress it up for PE.”
In addition to CNBC, Comcast is spinning off MSNBC, E!, and Oxygen — but holding onto Bravo, whose “Real Housewives” shows and other reality fare are inexpensive to produce and integral to its Peacock streaming service.
Before his meeting with CNBC staff on Thursday, Lazarus and MSNBC president Rashida Jones spoke to execs, producers, anchors, and hosts at MSNBC on Wednesday, Vanity Fair reported.
There were also signs of optimism there, with host Rachel Maddow saying it was positive to have Lazarus there on “day one,” Vanity Fair reported. Still, reporting from The Ankler described the meeting as “intense.”
Comcast is going forward with the spinoff — which it says will take about a year to complete — amid sagging prospects in the cable TV business. And it’s not alone. Disney chairman and CEO Bob Iger previously floated the idea of spinning off its cable channels, but the company has more recently retreated.
