Comcast announced it will spin off NBCUniversal, including the Universal movie studios, theme parks, Peacock streaming service, and brands like NBC, Telemundo, and Bravo, into a new publicly traded company. The move is expected to be completed in about a year, pending regulatory approval.
Background
The decision comes as Comcast looks to become a more pure-play broadband and wireless company, while NBCUniversal will become one of the largest owners of content. The company has struggled in recent years, with its stock reflecting Wall Street skepticism about its combination of content and distribution.
Comcast executives recognize that the market is rewarding pure-play companies, and the spinoff is seen as a way to unlock growth and new opportunities for each business. The company has some recent experience with breakups, having spun off most of its cable channels, including CNBC, in January.
Original reporting: KTVZ (Central Oregon) — read the source article.
