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9h ago

Comcast to Spin Off NBCUniversal and Sky Into a Separate Public Company

Company leaders say the tax-free split will free the media arm to pursue content growth by separating it from Comcast's broadband and technology business.

People visit the Top of the Rock observation deck behind a Comcast corporate logo at the top of 30 Rock in Rockefeller Center seen from the Empire State Building on May 8, 2023, in New York City.
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Overview

  • The company disclosed the plan on Monday, June 29, 2026, announcing a tax-free spin-off of NBCUniversal and Sky that it expects to complete in about one year subject to board sign-off, tax and SEC clearances, financing and regulatory approvals.
  • Mike Cavanagh will become CEO of the spun-off NBCUniversal while Michael Angelakis will lead the remaining Comcast, and chairman Brian L. Roberts will remain actively involved with both companies.
  • Comcast said it will retain up to a 19.9% ownership stake in the new NBCUniversal for up to one year after the spin and intends to monetize that holding in a tax-efficient way over time.
  • Investors rewarded the move with a sharp rally in Comcast shares, which jumped roughly 20 to 26 percent in premarket trading on the announcement as markets priced in potential value unlocking.
  • The split reverses more than a decade of combining content and distribution, follows Comcast’s earlier Versant carve-out of cable networks, and could make the standalone media company more active in deals while leaving the remaining Comcast focused on broadband, wireless and technology services that serve over 65 million homes and businesses.