Comcast plans to split into 2 companies, spinning off NBCUniversal
Summary
Comcast announced it will split into two companies by spinning off NBCUniversal and Sky into a separate media company. The new NBCUniversal company will manage media and entertainment assets, while Comcast will keep its broadband and wireless services.Key Facts
- Comcast plans to separate NBCUniversal and Sky into their own company.
- The split will be tax-free and aims to let each business grow independently.
- NBCUniversal will include Universal theme parks, movie studios, and TV networks like NBC and Sky.
- Comcast will keep Xfinity internet, Xfinity Wireless, and Comcast Business services.
- Comcast shares rose 21% after the announcement.
- Comcast will keep a 19.9% ownership in NBCUniversal.
- The deal is expected to finish in about 12 months.
- Leadership changes: Mike Cavanagh will lead NBCUniversal, Michael Angelakis will become Comcast CEO, and Brian Roberts will stay involved with both companies.
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