MEDIA

Hartmann Report - Comcast, which owns NBC and its subsidiaries CNBC and MSNBC (among other media outlets) announced this week that they’ll be spinning off MSNBC (among others) next year. And the consequences are already showing up. It was reported this week that Rachel Maddow just took a substantial annual pay-cut because of the uncertain future of the network.

In part, this probably reflects a belt-tightening at Comcast, but is also an indication of how legacy media — which now includes cable properties — are taking a hit from newer digital media, from social media to podcasts to web-based networks and programs. The principal analyst and VP of content for the market research company eMarketer, Paul Verna, told the AP that:

“The writing is on the wall that the cable TV business is a dwindling business,” and, the AP noted, is “predicting future consolidation of the networks or acquisitions through private equity.”