Comcast said it will separate NBCUniversal and Sky into a new publicly traded media company, leaving broadband, wireless and business services in the remaining Comcast. The spin-off is expected to be tax-free and to close in about a year, pending approvals.
Comcast said on June 29 that it plans to split into two publicly traded companies, separating NBCUniversal and Sky from its broadband and wireless business in a tax-free spin-off expected to take about a year.
The move would leave the remaining Comcast focused on connectivity businesses, including broadband, wireless and business services. The new media company would hold NBC, Telemundo, Peacock, Bravo, Universal Studios, theme parks and Sky.
The company said shareholders are expected to receive shares in both businesses. Comcast also said it expects to retain up to a 19.9% stake in NBCUniversal for up to a year after the separation.
Leadership and structure
Under the plan reported by multiple outlets and confirmed by Comcast’s announcement, co-CEO Mike Cavanagh is set to lead the spun-off NBCUniversal business. Former Comcast chief financial officer Michael Angelakis is expected to lead the remaining Comcast company.
Brian L. Roberts, Comcast’s chairman and chief executive, said the separation is intended to unlock a more entrepreneurial management approach and create new opportunities for each business.
Why Comcast is doing this
The split comes as Comcast faces pressure from cord-cutting and the broader shift from linear television to streaming. Comcast already completed a separate spin-off earlier in 2026 that moved most cable networks and related digital assets into Versant.
NBCUniversal and Sky now move together in the planned restructuring, extending Comcast’s effort to separate its legacy media assets from its connectivity business.
What happens next
The transaction still needs board and regulatory approvals, and the final legal structure could change before closing. Comcast is expected to provide more detail in filings, including governance terms and the future of Sky News funding, which has been a recurring focus in prior coverage.
For shareholders, the split could reshape Comcast’s valuation and capital structure. For NBCUniversal and Sky, it would create a standalone global media company with its own investment priorities. For the remaining Comcast, it would create a cleaner broadband and wireless-focused company with greater strategic flexibility.
Revision note
Initial automated publication.