Comcast plans to spin off NBCUniversal and Sky into a separate company
Comcast spin-off separates NBCUniversal and Sky into a new public media company See how the split could reshape streaming strategy, investor value, and growth
Comcast said Monday that it will separate NBCUniversal and Sky from its cable and broadband business, creating a new publicly traded media company. The company said the move should be completed in about a year, pending board and regulatory approvals.
Under the plan, Comcast shareholders would own shares in both companies. Comcast coCEO Mike Cavanagh is set to lead NBCUniversal, while former CFO Michael Angelakis would become CEO of the remaining Comcast business.
The decision comes as the media industry continues to face pressure from cordcutting and the shift toward streaming. Comcast shares rose sharply after the announcement, as investors weighed the impact of the restructuring on the company’s future strategy.