PHILADELPHIA — Comcast Corp. announced plans on Monday to split into two independent publicly traded companies, separating its broadband and connectivity businesses from its NBCUniversal media and entertainment assets including Sky.
The company said it intends to spin off NBCUniversal and Sky in a tax-free transaction to Comcast shareholders, creating one firm focused on cable, wireless and business services and another centered on theme parks, film and television studios, broadcast networks, Peacock streaming and European operations.
Comcast shareholders would own stock in both companies following completion of the deal, which is expected in approximately one year subject to board approval, tax opinions, regulatory clearances and financing arrangements. Comcast plans to retain up to a 19.9% stake in the spun-off NBCUniversal for up to one year after the separation, which it intends to monetize.
Brian L. Roberts, chairman and co-chief executive officer of Comcast, said the move would unlock entrepreneurial management and new opportunities for each business.
Mike Cavanagh, currently co-CEO of Comcast, will become CEO of the new NBCUniversal media and entertainment company. Former Comcast CFO Michael Angelakis will return to lead the remaining Comcast as CEO, initially joining as a strategic adviser.
The remaining Comcast will focus on its converged network serving more than 65 million homes and businesses, wireless services and business platforms, while NBCUniversal will encompass Universal theme parks, studios, NBC and Telemundo networks, Peacock, Bravo and Sky.
Shares of Comcast rose more than 20% in premarket trading following the announcement.
The separation comes after Comcast's earlier spin-off of Versant Media Group, which housed many of its cable networks and began trading in January 2026.
Details of the new transaction, including exact timing and final structure, remain subject to customary conditions, the company said. The situation is developing.
