According to NBC News, CNBC will keep its name, which stands for Consumer News and Business Channel, but will also receive a new logo. Comcast will reportedly retain other NBCUniversal networks, including NBC, NBC News, NBC Sports, Bravo, and the streaming service Peacock.

MSNBC's new name, "MS NOW," was mocked on social media on Monday, and the branding change was compared to several failed computer software products.

The change comes as MSNBC and other Comcast cable networks are set to spin off into a separate company, Versant, led by Mark Lazarus. In addition to MSNBC, CNBC, Golf Channel, GolfNow, and SportsEngine will also be joining Versant and all will be losing the iconic Peacock logo.

The rebranding — which stands for My Source for News, Opinion, and the World — comes as Comcast spins off several of its cable networks into a new company called Versant. The change will drop both the NBC name and the peacock logo from MSNBC 's branding.

(Reuters) -Cable news channel MSNBC will rebrand as My Source News Opinion World, or MS NOW, ahead of the planned spinoff of the bulk of parent Comcast's NBCUniversal cable networks later this year, the Wall Street Journal reported on Monday.

Robby Soave and Lindsey Granger react to MSNBC announcing new name, "MS NOW."

As NBCUniversal spins off its cable holdings, MSNBC is rebranding without the rainbow Peacock. When MSNBC spins off from NBCUniversal (NBCU) by the end of the year to become an independent company, it will have a new name and logo.