Key facts
- Comcast plans to spin off NBCUniversal and Sky into two separate, publicly traded companies.
- The separation aims to allow each entity to pursue independent strategic priorities and growth.
- The process is expected to be tax-free and take approximately one year to complete.
- Mark Lazarus will lead the new company as CEO.
- The spun-off assets generated $7 billion in revenue in the 12 months prior to September 30.
- Comcast will retain a stake of up to 19.9% in NBCUniversal for up to one year post-spinoff.
Comcast announced plans to spin off its NBCUniversal and Sky businesses into two separate, independent publicly traded companies. The company stated that this strategic move is intended to better position each entity to pursue its own strategic priorities, invest for growth, and create long-term shareholder value. The separation is expected to be tax-free and completed in about a year, pending board and regulatory approvals. Comcast will retain a stake of up to 19.9% in NBCUniversal for up to one year post-spinoff. The spun-off assets generated $7 billion in revenue in the 12 months prior to September 30. Mark Lazarus, currently chairman of NBCUniversal Media Group, will lead the new company as CEO, with Anand Kini serving as its financial and operating head. Comcast will continue to provide internet services. In premarket trading, Comcast shares surged 24% following the announcement.