business
Comcast to Spin Off NBCUniversal and Sky After Years of Stock Weakness
Comcast announced on June 29, 2026, that it will separate NBCUniversal and Sky into a new publicly traded media company. The spinoff process is expected to take about one year and requires regulatory and board approvals. Shares rose between 17% and 24% in pre-market trading.
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Comcast announced on June 29, 2026, that it will spin off NBCUniversal and Sky into a new publicly traded company. The new entity will include Universal movie studios, Universal theme parks, the Peacock streaming service, NBC, Telemundo and Bravo. @DailyCaller reported that Comcast plans to retain up to a 19.9% ownership stake in the new company for up to one year after the spinoff and intends to monetize that stake in a tax-efficient manner.
The separation is expected to take approximately one year and remains subject to regulatory approvals and board approval. Brian Roberts, Comcast chairman and co-CEO, stated the separation will allow each business to pursue distinct opportunities with dedicated focus.
Mike Cavanagh, co-chief executive officer of Comcast Corporation, said both companies begin the next chapter from positions of strength and that NBCUniversal together with Sky will have the scale, brands, content and financial resources to compete as a premier global media and entertainment company.
Cavanagh is set to become chief executive of the NBCUniversal spinoff company. Brian Roberts will continue as strategic adviser and remain actively involved in leadership of both companies alongside their CEOs. Michael Angelakis, former chief financial officer, plans to rejoin Comcast after the media company is fully separated.
Angelakis stated that together the companies will build on strengths, execute aggressively, invest for growth and pursue new opportunities to create value for customers, colleagues and shareholders. @DailyCaller reported that Comcast shares rose 17% in pre-market trading before settling at a 9% gain after the market opened, while other outlets cited pre-market increases of 20% and 24%.
In 2025 Comcast approved a roughly $7 billion spinoff of its cable networks after NBC News cut jobs following rating declines at MSNBC in 2024.
Comcast's stock has struggled in recent years with Wall Street skepticism about its ability to compete with companies like Netflix.
