MSNBC is changing its name to MS NOW and dropping its peacock logo as part of the cable channel's spinoff from Comcast's NBC Universal.

The new name stands for My Source News Opinion World, according to the company. MSNBC and several other cable channels owned by NBC Universal are spinning off into a new business called Versant, which will also include financial news channel CNBC and entertainment networks such as USA, Oxygen, E! and SYFY.

Comcast, the owner of NBC Universal, announced the spinoff in November amid struggling ratings for the cable industry as a whole. MSNBC's name change comes after the network was founded almost 30 years ago through a partnership between Microsoft and NBC, with the shorthand for the tech giant — MS — and NBC's brand forming the channel's name.

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