Comcast will announce the spinoff of cable networks Wednesday, CNBC source says

Comcast is moving forward with the spinoff of its cable network channels, a person familiar with the matter told CNBC’s Julia Boorstin on Tuesday.

The separation is expected to take about a year, and an announcement from the company could come as early as Wednesday, the person said. The company had announced during its quarterly earnings in October it was considering a split of the cable networks.

The spinoff was first reported by The Wall Street Journal.

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Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.