The new name and logo, which were brutally mocked online, are part of Comcast’s $7 billion spinoff of cable assets.

MSNBC is reportedly set to change its name to "My Source News Opinion World," The Wall Street Journal reported on Monday as part of Comcast's spin off from NBC Universal.

MSNBC is being renamed after parent company Comcast spins the cable news channel off into a separate corporate entity later this year. The left-leaning channel will be known as MS NOW once it becomes part of Versant, a new company, and is no longer associated with NBC News, staffers were told Monday.

Cable news network MSNBC will change its name and drop the iconic peacock logo as parent Comcast presses ahead with the planned separation of many NBCUniversal cable networks later this year.

Political news network MSNBC will rebrand to MS NOW as Comcast’s NBCUniversal prepares to spin off several media brands into a new company called Versant,

FCC Chairman Brendan Carr sent a letter to Comcast on Tuesday announcing a probe of the company's relations with NBC affiliates.

Where Comcast sees value in NBC Universal is in controlling video content. Comcast owns the largest paid TV network in the country, as well as one of the largest broadband networks in the country.

Waxman noted that Comcast has a greater market value, at $48.4 billion, than NBC Universal, which has fallen to an estimated $35 billion in value, from about $55 billion a year ago.

The upcoming spinoff of communications giant Comcast’s ($CMCSA) linear television arm, which will form a new operation called Versant, will not