Comcast sets leadership team for ‘SpinCo’ cable unit

Comcast announced in November that a new entity, SpinCo, will house NBCUniversal channels such as USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel.

It said SpinCo would be overseen by former NBCUniversal Media Group chairman Mark Lazarus, who will serve as CEO; and former NBCUniversal CFO Anand Kini, who will serve as CFO and Chief Operating Officer.

Joining the pair will be Val Boreland as President of Entertainment; Keith Cocozza as Chief Communications Officer; Brian Dorfler as Chief Human Resources Officer; Jeff Mayzurk as President, Operations & Technology; Kristin Newkirk as CFO, TV Networks; David Pietrycha as Chief Revenue and Business Officer; and Greg Wright as Chief Accounting Officer and Controller.

“As we embark on this journey to build a one-of-a-kind company, I am thrilled to be joined by such a talented group of leaders with the experience and expertise needed to make SpinCo a leading multimedia company from day one,” said Mark Lazarus. “Together, we will capitalise upon our iconic media assets, chart a course for growth and continue to attract additional talent as we build momentum toward the completion of the spin-off.”

Boreland is currently the EVP, Head of Content Acquisitions, TV & Streaming for NBCUniversal where she oversees the buying and curation of content for NBC and Peacock. Cocozza is currently the SVP of Communications for CNBC, while Dorfler is the Head of Human Resources for the NBCUniversal Media Group.

Mayzurk is currently the EVP, News Group Operations & Technology at NBCUniversal; Newkirk is CFO of NBCUniversal Local; and Pietrycha, who will have oversight of business development, ad sales, distribution, and data and research at SpinCo is currently the Chief Business Officer of NBCUniversal Media Group. Wright currently serves as VP, External Reporting & Treasury Controller for Comcast Corporation.

Comcast said the new entity’s assets will reach approximately 70m US households, and that SpinCo’s assets had generated approximately $7bn in revenue over the past year.

Comcast’s cable networks business has been in decline as consumers cancel their cable TV subscriptions and subscribe to streaming services. Many analysts argue that Comcast’s ongoing ownership of cable networks has held back its share price.