Comcast to split its cable business from media through NBCUniversal and Sky spinoff
The company said shareholders will own stock in both businesses as NBCUniversal and Sky become a standalone media company.
- On Monday, June 29, 2026, Comcast Corporation announced plans to separate into two independent publicly traded companies through a tax-free spin-off of NBCUniversal and Sky.
- Chairman and Co-Chief Executive Officer Brian L. Roberts stated the move reflects Comcast's track record of positioning businesses to win in changing markets, as management believes each entity will be better positioned to pursue strategic priorities independently.
- Comcast co-CEO Mike Cavanagh will lead NBCUniversal as CEO, while former Chief Financial Officer Michael Angelakis becomes CEO of Comcast, with the spin-off expected to complete in one year and Comcast retaining a stake of up to 19.9%.
- Reaching more than 65 million homes and businesses, the separate Comcast business will focus on customer experiences backed by the nation's largest converged network, while Cavanagh said the media company will compete as a "premier global media and entertainment company."
- Subject to final board and regulatory approvals, Comcast shareholders will own shares in both companies, and both entities will maintain a dual-class share structure, positioning each for long-term independent growth.
214 Articles
214 Articles
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