Comcast says it will separate its media and technology businesses into two publicly traded companies through a spin-off. The move separates the company’s studio and broadcast assets—including NBC News, Universal Pictures, and the Peacock streaming service—from its cable, broadband, and wireless operations. Multiple outlets report that Comcast also plans to include Sky in the new media company, reflecting Comcast’s broader media portfolio.
According to the reports, Comcast’s corporate restructuring follows a wider industry trend of splitting media and distribution businesses, and it continues Comcast’s recent adjustments to its cable operations, which included shedding much of its cable TV business into Versant Media. The spin-off is expected to be tax-free and would take about a year to complete, though it remains subject to regulatory approval.
The outlets also describe expected leadership changes in connection with the split. Comcast Co-CEO Mike Cavanagh is slated to lead the NBCUniversal (including Sky) company, while Comcast’s former CFO Michael Angelakis is reported as being positioned to lead Comcast’s remaining operations.
