Comcast to split into two companies, spin off NBCUniversal and Sky
NBC News • • general
Key Points:
- Comcast announced plans to split into two publicly traded companies by spinning off NBCUniversal and Sky, separating its media and entertainment assets from its broadband and wireless business.
- The newly spun-off NBCUniversal will include theme parks, Universal studios, NBC and Telemundo networks, Peacock, Bravo, and Sky, while Comcast will focus on broadband, wireless, and entertainment platforms.
- The separation is expected to be completed within about a year, with Comcast retaining up to a 19.9% stake in NBCUniversal for up to a year post-spinoff.
- Comcast shareholders will own shares in both companies, which Comcast believes will be better positioned to pursue strategic priorities and create long-term shareholder value independently.
- Mike Cavanagh will lead NBCUniversal as co-CEO, Michael Angelakis will head Comcast, and Chairman Brian Roberts will remain actively involved in both companies’ leadership.
