Comcast Announces Plan To Spinoff NBCUniversal In Bid To Split Media and Tech Businesses
Forbes • • nation
Key Points:
- Comcast announced plans to spin off its media and technology divisions by creating a separate company for NBCUniversal and Sky through a tax-free spinoff.
- The announcement triggered a surge in Comcast’s shares, which rose over 26% in premarket trading to $29.23, nearly recovering losses from earlier this year.
- Comcast expects to retain up to a 19.9% ownership stake in NBCUniversal for up to one year following the spinoff, with intentions to monetize this holding in a tax-efficient way over time.
- The company previously was a major bidder in the Warner Bros. Discovery acquisition race, competing alongside Paramount and Netflix.
