Comcast announced Monday that it plans to split into two publicly traded companies by spinning off NBCUniversal and Sky. The move will separate Comcast’s media and entertainment assets from its broadband and wireless business.
Company Restructure
The newly spun-off NBCUniversal will include the company’s theme parks division, Universal film and television studios, NBC and Telemundo networks, Peacock, Bravo, and Sky — the British broadcaster bought in 2018. Comcast meanwhile will continue with its “broadband, wireless and entertainment platforms.”
The separation is expected to be completed in about a year, though Comcast expects to retain a stake of up to 19.9% in NBCUniversal for up to a year after the spinoff is completed. Current investors will have shares in both new companies.
Comcast Chairman and co-CEO Brian Roberts will “continue to be actively involved in the leadership” of both Comcast and NBCUniversal, “working in partnership with the CEOs of both companies,” the company said in the statement.
Original reporting: Dallas TX News (HLL/CB) — read the source article.
