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In a major announcement, Comcast says it will split into two separate publicly traded companies – Comcast and NBCUniversal.
Upon completion of the tax-free spinoff transaction, Comcast shareholders will own shares in both Comcast and NBCUniversal with each boasting “significant scale, strong financial profiles and distinct strategic opportunities.”
NBCUniversal will be anchored by Universal Pictures, Universal Television, NBC, Peacock, Bravo, Telemundo, Universal’s theme parks division and European broadcasting giant Sky.
Comcast will consist of Xfinity broadband along with Comcast’s wireless/mobile, business services, and technology and connectivity operations.
Brian L. Roberts will continue to be actively involved in the leadership of Comcast and NBCUniversal and will work in partnership with the CEOs of both companies.
Mike Cavanagh will serve as the CEO of NBCUniversal, while Michael Angelakis will become the CEO of Comcast following the completion of the separation.
Source: THR
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