economy
Comcast announces it will spin off NBCUniversal and Sky from cable business
Comcast said it will separate into two publicly traded companies through a tax-free spinoff of NBCUniversal and Sky.
TL;DR
- Comcast will spin off its remaining media business, NBCUniversal and Sky, into a new publicly traded company.
- The separation will be a tax-free spinoff and is expected to be completed in about a year.
- Comcast shareholders will own shares in both Comcast and the new NBCUniversal company.
- NBCUniversal's assets will include theme parks, film and television studios, NBC, Telemundo, Peacock, Bravo, and Sky.
- The remaining Comcast company will focus on cable, wireless, and business services.
- This move comes amid significant challenges in the media industry, driven by the shift to streaming.
- Comcast will pause share repurchases during the split and will provide more details on dividend policies later.