The spinoff company will be "comprised of a strong portfolio of NBCUniversal's cable television networks, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel along with complementary digital assets including Fandango and Rotten Tomatoes, GolfNow and Sports Engine," Comcast said today.

With Comcast spinning off cable assets, NBCUniversal will need to develop some new corporate muscles in order to maintain the mojo of the Paris Olympics.

Comcast Corp. stock rose in after-hours trading Tuesday after the Wall Street Journal reported the company is expected to announce a plan to spin off most of its cable TV networks.