Comcast Plans To Split Into Two Public Companies By Spinning Off NBCUniversal And Sky
LOADINGERROR LOADINGComcast is planning to split itself into two separate publicly traded companies by spinning off NBCUniversal and Sky.The company said Monday that its board and management team think each company will be better positioned to pursue its own strategic priorities, invest for growth and create long-term shareholder value as independent entities.Advertisement The planned move comes after Comcast announced in November 2024 that it was spinning off cable networks such as USA, Oxygen, E!, SYFY and Golf Channel, as well as CNBC and MSNBC into a new company.Movie ticketing platform Fandango and the Rotten Tomatoes movie rating site were also included.Comcast is planning to split itself into two separate publicly traded companies by spinning off NBCUniversal and Sky.AP Photo/Gene J.
Puskar, FileLike other cable companies, Comcast in recent years has shifted its business emphasis away from traditional cable toward streaming and other sources of revenue, such as its movie studio, theme parks and home wireless and internet services.Advertisement Media and entertainment company NBCUniversal includes a theme parks division, Universal film and television studios, NBC and Telemundo networks, Peacock, and Bravo.Its portfolio will now European media business Sky.Comcast, based in Philadelphia, will continue providing internet services to residential and business customers.Comcast co-CEO Mike Cavanagh will become the CEO of NBCUniversal.
Comcast’s former Chief Financial Officer Michael Angelakis will become the CEO of Comcast, following completion of the separation.In the interim, he will serve as a strategic adviser.Advertisement Comcast Chairman and co-CEO Brian Roberts will continue to be actively involved in the leadership of Comcast and NBCUniversal, working in partnership with the CEOs of both companies.“Comcast will continue to build on its leadership in connectivity, while NBCUniversal, together with Sky, will have the s...