Comcast to Split Into Two via Spin-Off of NBCUniversal, Including Sky
Comcast plans to separate into two independent publicly traded companies through a tax-free spin-off of NBCUniversal and Sky, the company said on Monday. “Upon completion of the transaction, Comcast shareholders will own shares in both Comcast and NBCUniversal, creating two focused industry leaders, each with significant scale, strong financial profiles and distinct strategic opportunities,” it said. “The proposed separation reflects Comcast’s track record of positioning its businesses to compete and win in rapidly changing markets,” it said. “As technological innovation, consumer behavior and competitive dynamics continue to reshape both media and communications, Comcast’s board and management team believe each company will be better positioned to pursue its own strategic priorities, invest for growth and create long-term shareholder value as independent entities.” Brian L. Roberts will continue to be actively involved in the leadership of Comcast and NBCUniversal, working in partnership with the CEOs of both companies. Mike Cavanagh will be the CEO of NBCUniversal and Comcast’s former CFO Michael Angelakis will become the CEO of Comcast, following completion of the separation and in the interim will …









