NBCU execs past and present feel a bit resigned to the fact that the halcyon days of cable TV are over, and that it's all about managing a slowly dying business at this point. No

“Comcast is accelerating this pressure [in the cable business] with its success with Peacock, which makes the legacy pay-TV model with multi-channel bundling of cable networks a much more difficult prospect going forward,” Raymond James analyst Frank G. Louthan wrote in a note Wednesday.

Comcast may be proceeding with a transaction as a signal to the rest of the media industry that consolidation is necessary.

Comcast said on Wednesday that it plans to spin-off the bulk of its fading NBCUniversal cable TV networks, including MSNBC and CNBC, as the company said it is repositioning itself for growth in the streaming era.

Bravo stays with NBC, but other longtime cable networks such as E!, USA and MSNBC will be part of a new company.

The split would cleave off some of NBCUniversal’s best-known brands, which face the same cord-cutting challenges as many other major cable channels.

Comcast's decision to spin off cable networks like MSNBC and CNBC aims to free up cash, but may invite more competition. Read why CMCSA stock is a Sell.