Comcast to Split, Spin Off NBCUniversal

Comcast Corporation announced plans to split into two separate publicly traded companies by spinning off Comcast — NBCUniversal and Sky. The new Comcast — NBCUniversal will be a global media and entertainment company, encompassing its theme parks, film and television studios, NBCUniversal — NBC, NBCUniversal — Telemundo, Peacock, Bravo, and Sky. The remaining Comcast will focus on broadband, wireless, and business services. The separation, expected to be completed in about a year, aims to allow each entity to pursue its own strategic priorities and enhance shareholder value. Brian L. Roberts will remain involved with both companies, while Mike Cavanagh will lead Comcast — NBCUniversal and Michael Angelakis will lead Comcast. Comcast plans to retain a stake of up to 19.9% in Comcast — NBCUniversal for up to one year post-spin-off.