• CNBC anchors projected an air of mild panic about the news that Comcast would spin off the network.
• The media conglomerate announced it would create a new entity for most of its cable networks.
• Some NBCU insiders worry about the new entity's prospects and potential staff cuts.

CNBC anchors turned their signature irreverent style on themselves on Wednesday as their parent company, Comcast, became a headline in announcing plans to spin off the business-news network along with many other cable assets.

"We're going out into the cold, cruel world," Joe Kernan, a coanchor of "Squawk Box," quipped on air.

It's no secret that the cable business has long been in decline as viewers drift to streaming services. A fellow CNBC anchor, David Faber, came up with an analogy to describe the situation: "We've been on a life raft, and it's kind of been sinking. Now we're all going to be able to swim for ourselves, you know, so it's up to us."

"Maybe we can latch on to a bunch of other people drowning," Kernan replied.

Comcast brass presented the deal, in which it will spin off nearly all of its cable networks into a separate entity headed by Mark Lazarus, now the chairman of NBCUniversal's media group, as a way to grow its remaining businesses while enabling the spun-off networks to consolidate with others.

Bravo, the home of the "Real Housewives" franchises and other reality fare, will remain part of NBCU, along with its film and TV studios, the Universal theme park, the NBC broadcast network, and the streaming service Peacock.

"That Lazarus guy, he's amazing," Faber said, adding that he was "just trying to get on his good side."

Analysts — including those featured on CNBC — didn't hold back on Wednesday about what the spinoff means for the cable network.

"This is them saying we no longer want to be in this business, this is no longer a growth business," Rich Greenfield, a cofounder of LightShed Partners, said of Comcast during a CNBC segment. For CNBC specifically, he said, the question is "can these networks stand on their own?"

"Rich, I think I like you less today," Becky Quick, an anchor on "Squawk Box," responded later in the broadcast.

CNBC's Julia Boorstin laid out questions about the deal, suggesting the so-called SpinCo could make meaningful acquisitions from other media companies in transition, like Warner Bros. Discovery, Paramount, and Starz.

"One of my sources very close to the situation said, 'This isn't the end, this is the beginning,'" she said. "The question is what else does this company acquire, how do they try to squeeze as much revenue as possible from these linear networks, and what do they do with them from a digital perspective in terms of streaming. And what do they do in terms of non-television revenues, things like events, things like communities."

Elsewhere, others inside NBCU had their own questions and concerns about the spinoff.

One question for CNBC folks is whether they'll maintain the prestige and workplace benefits that came with being part of Comcast. There's also a question of what separating MSNBC could mean for NBC News and local NBC stations. MSNBC's left-leaning tilt has sometimes complicated things for straight news-focused NBC News and local NBC stations.

Anxiety was running high among some staffers at CNBC in London, who worried that international offices could be hit first by any cuts in shows or personnel resulting from a spinoff. These people, like some others in the story, spoke on the condition of anonymity for fear of workplace repercussions. Their identities are known to Business Insider.

One concern is that the spinoff could make it harder for NBCU's separate but co-owned news outlets to compete. NBC and CNBC have closely collaborated on reporting about topics like Elon Musk's role in the Trump administration that draws from CNBC's business expertise. NBC also relies on CNBC's sports coverage.

An NBC News staffer told BI that some in the newsroom felt "blindsided" by the news.

"The message has been to integrate as much as possible, so I definitely think this raises a lot of questions about whether that can continue," this person said.

Cable television has long been viewed as a stagnant business, showing little promise for growth over the years. However, Comcast believes it has found a new growth opportunity. On Wednesday, the company announced that it’s spinning off NBCUniversal’s cable television networks — such as CNBC, E!, Golf Channel, MSNBC, Oxygen, SYFY, and USA Network — […]

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• Comcast plans to spin off the bulk of its NBCUniversal cable channels.
• The planned spinoff includes MSNBC, CNBC, E!, and Oxygen, among others.
• NBC, Bravo, and the streaming service Peacock would not be spun off under the plan.

Comcast is planning to break off the bulk of its cable television channels.

The plan to spin off some NBCUniversal channels includes MSNBC, CNBC, USA, Oxygen, E!, Syfy, and the Golf Channel, while NBC, Bravo, and the streaming service Peacock will remain under NBCUniversal, Comcast president Mike Cavanagh announced in a memo to NBCU employees viewed by Business Insider.

The assets that are part of the planned spinoff generated $7 billion in revenue during the year that ended in September, according to The Wall Street Journal, which first reported that the spinoff was going ahead.

The spinoff, dubbed "SpinCo" for now, which would take about a year, will enable growth in NBCUniversal's remaining assets, Cavanagh wrote in his memo.

"The well-capitalized, independent company will be positioned to lead in the changing landscape for cable networks given the strength of its portfolio and the quality and focus of its management team," Cavanagh wrote. "SpinCo will provide a diverse and differentiated content offering that will reach approximately 70 million U.S. households, making it highly attractive to investors, content creators, distributors, consumers, and potential partners. The company will have significant cash flow, a strong balance sheet, and the financial flexibility to pursue growth opportunities, both organically and potentially through acquisitions."

He wrote that the new entity's ownership structure would be similar to Comcast's and that Mark Lazarus, currently chairman of NBCUniversal's media group, would be named CEO.

Comcast said it was exploring spinning off its cable networks late last month, with BI's Peter Kafka writing that the move served as yet another signal of cable TV's decline.

Analysts said Comcast could increase its valuation by selling its cable networks, though they were unsure if it would actually work out, BI previously reported.

"Carving out the US cable networks, which include USA, CNBC, and E!, without Peacock or the NBC broadcast network would be odd," Michael Hodel, a media analyst at financial-services firm Morningstar, previously wrote. "The cable networks likely have little value on their own. A spinoff would have to be part of a larger strategic move, like merging with another firm."

Other media giants are wrestling with what to do about their declining traditional TV channels. Disney CEO Bob Iger in the past floated the idea of selling Disney's TV and cable channels. On its earnings call last week, Disney retreated that idea, though, suggesting that the price wouldn't be high enough and that it would be too complex to separate them from the rest of the company.

That complexity hovers over Comcast as well. NBCU's various TV channels are tightly integrated, sharing back-office functions and talent that would have to be untangled, for one.

This article was originally published on November 19 and has been updated with new details of the planned spinoff.