Comcast is splitting in two

Comcast has announced its intention to separate into two distinct publicly traded companies, spinning off its NBCUniversal and Sky media properties. The move is designed to protect the company's profitable broadband and wireless business, which will retain the Comcast name, while its media and entertainment division—to be collectively called NBCUniversal—faces increasing pressure from industry consolidation and streaming competition. The separation is expected to take approximately one year. Upon completion, Comcast shareholders will own shares in both Comcast and NBCUniversal. Current Comcast CEO Brian L. Roberts will be actively involved in leading both companies, while co-CEO Mike Cavanagh has been selected to lead NBCUniversal. Former Comcast CFO Michael Angelakis will become CEO of Comcast after the split. Sky Media, the British broadcaster acquired by Comcast in 2018, along with the company's theme parks, Universal film and TV studios, NBC, Peacock, Bravo, and Telemundo networks, will be housed under the new NBCUniversal entity. The new Comcast will continue serving customers through its broadband, wireless, and entertainment platforms. Cavanagh stated that both companies begin from positions of strength, and he is personally thrilled to continue leading NBCUniversal.