Comcast is planning to split itself into two publicly traded companies, one focused on media that would include NBCUniversal and Sky and the other focused on broadband and wireless services.
The company said Monday that its board and management team think each company will be better positioned to pursue its own strategic priorities, invest for growth and create long-term shareholder value as independent entities.
The planned move comes after Comcast announced in November 2024 that it was spinning off cable networks such as USA, Oxygen, E!, SYFY and Golf Channel, as well as CNBC and MSNBC into a new company. Movie ticketing platform Fandango and the Rotten Tomatoes movie rating site were also included.
Like other cable companies, Comcast in recent years has shifted its business emphasis away from traditional cable toward streaming and other sources of revenue, such as its movie studio, theme parks and home wireless and internet services.
Media and entertainment company NBCUniversal includes a theme parks division, Universal film and television studios, NBC and Telemundo networks, Peacock, and Bravo. Its portfolio will now include European media business Sky.
Comcast, based in Philadelphia, will continue providing internet services to residential and business customers.
Comcast co-CEO Mike Cavanagh will become the CEO of NBCUniversal. Comcast’s former Chief Financial Officer Michael Angelakis will become the CEO of Comcast, following completion of the separation. In the interim, he will serve as a strategic adviser.
Comcast Chairman and co-CEO Brian Roberts will continue to be actively involved in the leadership of Comcast and NBCUniversal, working in partnership with the CEOs of both companies.
“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,” Cavanagh said in a statement.
Once the transaction is complete, Comcast shareholders will own shares in both Comcast and NBCUniversal. The separation is expected to be completed in about a year. It still needs final approval from Comcast's board and is subject to regulatory approvals.
Comcast expects to keep a stake of up to 19.9% ownership position in NBCUniversal for up to one year after the spinoff is complete.
In premarket trading, Comcast shares surged 24%.
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Please purchase a Premium Subscription to continue reading.
To continue, please log in, or sign up for a new account.
We offer one free story view per month. If you register for an account, you will get two additional story views. After those three total views, we ask that you support us with a subscription.
A subscription to our digital content is so much more than just access to our valuable content. It means you’re helping to support a local community institution that has, from its very start, supported the betterment of our society. Thank you very much!
Only subscribers can view and post comments on articles.
Already a subscriber? Login Here
These days, life can feel like it has been turned upside-down. What was relied upon as norma… Read moreInspirational Talk - “A Spiritual Revolution: The Quest to Experience God”
Expedia Cruises invites you to experience travel at its most refined. From intimate wildlife… Read moreElite Explorers Expo
Be a winemaker for an evening and craft your own Bordeaux-style blend. Read moreIntroduction to Wine Blending
CA Is Burning said:
CA Is Burning said:
CA Is Burning said:
Success! An email has been sent to with a link to confirm list signup.
Error! There was an error processing your request.
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
(0) comments
Welcome to the discussion.
Log In
Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.