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Comcast to Split into Two Public Companies via NBCUniversal and Sky Spinoff
Comcast will spin off NBCUniversal and Sky into a separate publicly traded company. The transaction separates the media and entertainment assets from the broadband and wireless operations. Shareholders will receive ownership in both resulting entities.
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Comcast will split into two publicly traded companies through a spinoff of NBCUniversal and Sky. The transaction separates the company's cash-generating broadband arm from its media and entertainment business. Comcast is spinning off its NBCUniversal entertainment and media assets into a separate publicly traded company.
The move will separate the media and entertainment assets from its broadband and wireless business. Upon completion, Comcast shareholders will own shares in both Comcast and NBCUniversal. The company stated the move will create two focused industry leaders, each with significant scale, strong financial profiles and distinct strategic opportunities.
The announcement follows the earlier spin-off of cable networks including MSNBC, now operating as MS Now, and CNBC into a separate company called Versant.
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CorroborationLimited · 3 sources
