The media giant last week put an upbeat spin on its move to shed what Wall Street sees as an albatross — the bulk of NBCUniversal ... media company in shutting down basic cable networks ...

The US media giant announced plans on Wednesday to spin off the bulk of its ... in October that the company was exploring the idea of creating a separate company for its cable networks.

In September, cable billionaire John Malone, a major Warner Bros. shareholder, said the company might create a ... $9.62 billion in revenue and delivered the bulk of adjusted earnings.

Other companies have sought to divide their struggling cable networks from their growing streaming businesses. Comcast Corp.’s NBCUniversal is spinning off the bulk of its cable channels ...