Comcast to Spin Off NBCUniversal and Sky Into Separate Company While Retaining Broadband Focus

Comcast announced it will spin off its media operations, including NBCUniversal and Sky, into a separate publicly listed company. The separation is expected to take one year to complete. After the transaction, investors will hold shares in Comcast, which will focus on broadband and mobile services reaching 65 million U.S.

Homes. The new company will include Universal Pictures, NBC, Telemundo, Peacock, Bravo, Sky, and theme parks, and will be led by Mike Cavanagh, currently co-chief executive of Comcast. Brian Roberts, co-chief executive of Comcast, said separating the businesses would unlock a more entrepreneurial management approach for each.

He added that the new company would be positioned to pursue opportunities across media and entertainment. Comcast acquired NBCUniversal 15 years ago and bought Sky’s European operations for £31 billion in 2018. It wrote down the value of Sky by almost a quarter and last year agreed to sell Sky Deutschland to RTL.

Earlier in 2026, Comcast completed the spin-off of U.S. , and SYFY into Versant. Sky is weeks away from announcing its £1.6 billion takeover of ITV’s media and entertainment operations. If completed, the new NBCUniversal company would control 40 percent of ITN.

Comcast guaranteed funding for Sky News for a decade after the 2018 acquisition, with annual increases tied to inflation. Sky News has an annual budget of about £100 million and is estimated to lose as much as £80 million a year. Last month Sky exited its news joint venture Sky News Arabia.

Comcast opted not to renew a licensing agreement for the Sky News brand in Australia, where the channel will rebrand as News24 later this year. NBCUniversal is building Universal United Kingdom Resort near Bedford, scheduled to open in 2031 and projected to draw about 8.5 million visitors in its first year. Comcast shares rose more than 20 percent in premarket trading following the announcement.