Comcast to Spin Off NBCUniversal and Sky in 1 Year as Shares Jump 26%

3 articles · Updated · CNBC · Jun 29

Comcast said it will split its media and technology operations into two publicly traded companies through a tax-free spin-off of NBCUniversal and Sky, with completion targeted in about one year.
26% premarket gains followed the announcement, which Comcast framed as a way to sharpen focus as streaming competition and industry consolidation pressure legacy media groups.
Mike Cavanagh will become NBCUniversal CEO, Michael Angelakis will lead Comcast, and Brian Roberts will stay involved in both companies; Comcast also plans to keep up to a 19.9% NBCUniversal stake for as long as a year.
30% share-price declines over the past 12 months and the erosion of the traditional TV bundle have pushed Comcast to reshape itself after already spinning off cable networks and digital assets into Versant Media earlier this year.
The move lands amid a broader media deal wave, including Paramount Skydance's merger, DOJ approval for a $110 billion Warner Bros. Discovery deal, and Fox's $22 billion agreement to buy Roku.

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CNBC3h ago

Comcast Announces Spin-Off of Media and Technology Businesses

The New York Times3h ago

Comcast to Spin Off NBCUniversal Media Business; Cavanagh to Lead New Company

Hollywood Reporter2h ago

Comcast to Split into Two Companies, Spinning Off NBCUniversal and Sky

9 Sources

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Comcast Spins Off Versant Media Group: Strategic Rationale, Market Impact, and the Future of Cable Networks in a Streaming-First Era

Overview

The spin-off of Versant Media Group from Comcast/NBCUniversal marked a major transition, establishing Versant as an independent company. Soon after, Versant announced its permanent headquarters in the historic New York Times building, moving from a temporary space and renovating six floors to create a new home for its staff. CEO Mark Lazarus highlighted the location’s convenience and the company’s commitment to building a strong identity. This move signals Versant’s intent to set down roots and focus on its core strengths as it navigates the evolving media landscape as a standalone entity.

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