David Novak Appointed Chairman of Comcast's SpinCo

Comcast has appointed David Novak, co-founder of Yum! Brands, as the Chairman of the Board for SpinCo, its upcoming spin-off that will include popular cable networks like USA Network, CNBC, and MSNBC, along with digital assets such as Fandango and Rotten Tomatoes. The spin-off is scheduled for completion by the end of 2025, aiming to establish itself as a leading independent media company. Comcast CEO Brian Roberts highlighted Novak's extensive experience and success in brand growth as key factors for his selection, while prospective SpinCo CEO Mark Lazarus expressed confidence in Novak's strategic leadership. Novak is set to leave his position on Comcast's board, which he has held since 2016, to focus on leading the new entity. This move is part of Comcast's strategy to unlock the value of its media assets and enhance SpinCo's market potential. Novak emphasized the opportunity to build a dynamic media company during this transformative period in the industry.