Comcast has announced plans to separate into two independent publicly traded companies by spinning off NBCUniversal and Sky.
The move will separate the company's media and entertainment business from its broadband and wireless business, creating two focused industry leaders.
NBCUniversal will include the company's theme parks segment, Universal film and TV studios, NBC and Telemundo networks, Peacock, Bravo, and Sky.
Comcast, a leading technology company, will continue with its "broadband, wireless and entertainment platforms", a statement said.
Epic Universe, the fourth theme park at Universal Orlando Resort, opened to the public on 22 May 2025
Brian Roberts, Comcast's chairman, will continue to be actively involved in the leadership of Comcast and NBCUniversal, working alongside the CEOs of both companies.
"This is a very exciting day for our company," said Roberts. "The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business."
Upon completion of the transaction, Mike Cavanagh will be CEO of NBCUniversal, and Comcast’s former CFO Michael Angelakis will become CEO of Comcast.
"Mike is one of the finest executives I’ve ever worked with and a trusted partner," Roberts said.
Deal expected to complete in a year
"His vision is for a unique, independent, focused company that will be home to some of the industry’s most valuable brands and assets across theme parks, film, television, streaming, sports and news.
"This new company will be well-positioned to pursue the significant opportunities that lie ahead, to partner across the media and entertainment ecosystem, and will be poised to grow."
The separation is expected to be completed in about a year through a tax-free spin-off to Comcast shareholders, who will own shares in both Comcast and NBCUniversal.
The deal is subject to conditions including final approval by Comcast's board of directors, receipt of tax opinions, regulatory approvals, and financing arrangements.
New focused industry leaders
"Both companies begin this next chapter from positions of strength," said Cavanagh.
"Comcast will continue to build on its leadership in connectivity, while NBCUniversal, together with Sky, will have the scale, brands, content and financial resources to compete as a premier global media and entertainment company."
He aded: "I’m personally thrilled to continue leading NBCUniversal into the future. With our iconic brands and theme parks, leading franchises and incredible creative talent, we are well-positioned for long-term value creation."
Images courtesy of Comcast
