business
Comcast to Spin Off NBCUniversal and Sky into Separate Public Company
Comcast will separate its media and technology operations into two publicly traded companies through a tax-free spin-off expected within one year. The stock rose more than 25 percent in premarket trading after the announcement.
Audio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Comcast announced plans to split its media and technology businesses into two separate publicly traded companies through a tax-free spin-off of NBCUniversal and Sky. Business Insider reported that the separation is expected to be completed within one year.
The move is intended to give each resulting company greater strategic focus and allow both businesses to invest more effectively while pursuing their own growth opportunities, according to the company.
Comcast co-CEO Brian Roberts said, "This is a very exciting day for our company. " Shares jumped more than 25 percent in premarket trading on Monday following the announcement, Business Insider reported. Earlier this year Comcast completed the spin-off of the majority of its cable networks, including CNBC and MSNBC, into Versant Media.
Transparency
How sources framed this
Single source — no framing comparison available.
CorroborationLimited · 1 source
