Comcast, NBCUniversal to split into separate companies

PHILADELPHIA/NEW YORK (UPI) — Comcast announced Monday that it is planning to split into separate media and technology companies over the coming year. Comcast will split into two independent publicly traded companies in what it said is a “tax-free spin-off” of NBCUniversal and Sky. The companies will be NBCUniversal and Comcast.

When the split is finalized, Comcast shareholders will own shares in Comcast and NBCUniversal. The move is expected to be completed in about a year.

NBCUniversal will be a media and entertainment company. Comcast will be a technology company, focused on its wireless business, fiber network and global technology platforms.

“This is a very exciting day for our company,” Brian L. Roberts, chairman and co-chief executive officer of Comcast Corporation, said in a statement. “The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business.”

Roberts will be involved in the leadership of both companies. Mike Cavanagh will serve as CEO of NBCUniversal. Michael Angelakis, former chief financial officer of Comcast, will become CEO of Comcast.

“Both companies begin this next chapter from positions of strength,” Cavanagh said in a statement. “Comcast will continue to build on its leadership in connectivity while NBCUniversal, together with Sky, will have the scale, brands, content, and financial resources to compete as a premier global media and entertainment company.”

Comcast announced that it was spinning off NBCUniversal in November 2024. The move separated NBCUniversal from NBC News, NBC Sports, Bravo and the Peacock streaming service.

Joe Fisher, United Press International

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Joe Fisher is an enterprise reporter for UPI and has reported on topics including elections, political campaigns, government policy and social issues. He is based in Clive, Iowa, and has a bachelor's degree in journalism from the University of Iowa. He has been published in The Gazette in Cedar Rapids, Iowa, The Des Moines Register and the Northwest Iowa Review.

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