Comcast Corporation said on Monday it will separate into two publicly traded companies through a tax-free spin-off of NBCUniversal and Sky, dividing its media and entertainment assets from its broadband, wireless and cable operations. The spun-off entity will combine Sky with Comcast's theme parks, Peacock, Bravo, the NBC and Telemundo broadcast networks, and Universal's film and television studios. The remaining Comcast will retain its Xfinity broadband, Xfinity Wireless and Comcast Business operations, serving more than 65 million homes and businesses across the United States.
The separation is expected to be completed in about one year, subject to board and regulatory approvals. Comcast shareholders will own shares in both companies following the transaction. Comcast said it expects to retain a stake of up to 19.9% in NBCUniversal for up to one year after completion, which it intends to tax-efficiently monetise over time. Comcast co-CEO Mike Cavanagh will become CEO of NBCUniversal, while former Comcast CFO Michael Angelakis will become CEO of the remaining Comcast. Chairman Brian Roberts is expected to stay engaged across both organisations after the split.
Roberts said in a statement that 'the transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business.' [Source: Reuters]
Comcast shares jumped as much as 26% in premarket trading following the announcement. An Associated Press reading put the move at $4.85, or 21%, to $28.02 in premarket trading. Prior to Monday's announcement, CMCSA had fallen roughly 30% over the preceding 12 months, a period marked by the shift away from the traditional TV bundle and toward streaming. Comcast has also faced competitive pressure in its core connectivity business, with rivals including T-Mobile and Verizon offering fixed wireless alternatives, and fibre operators continuing to expand their networks.
The announcement marks the second significant restructuring move by Comcast in a short period. Earlier in 2026, the company completed the spin-off of a portfolio of cable TV networks and digital assets — including CNBC and MS Now — into a separate public company called Versant Media. That process had its origins in a November 2024 announcement that Comcast would separate channels such as USA, Oxygen, E!, SYFY, Golf Channel, CNBC and MSNBC, along with Fandango and Rotten Tomatoes, into a new standalone entity. The NBCUniversal spin-off is a further and larger step in the disaggregation of the conglomerate Comcast assembled over two decades, including its £31 billion acquisition of Sky's European operations in 2018. The announcement also comes after Paramount Skydance received US Department of Justice approval earlier in June 2026 for a $110 billion deal to acquire Warner Bros. Discovery, a transaction that has reshaped the competitive landscape for large media groups.
Sources: Reuters, CNBC, Associated Press, Variety, The Guardian