Comcast announced Monday that it plans to split into two separate publicly traded companies by spinning off its media and technology businesses. This move will separate NBCUniversal and Sky into a separate publicly listed entity.
The media operation, which includes NBC News, Universal Pictures, the Peacock streaming service, and various television and theme park businesses, will be decoupled from Comcast’s cable and internet operations. The company noted that this shift follows a current trend in the media industry.
The transition will be executed as a tax-free spinoff and is expected to take one year to complete. The announcement comes eight years after the US group acquired Sky’s European operations for £31bn.
Current shareholders will receive shares in both resulting companies under the planned split.