Comcast is planning to separate its media and entertainment arm including NBCUniversal and Sky from its mobile and broadband business in a bid to reverse a sharp decline in its share price.
The US media group said on Monday that it would split into two independent publicly traded companies through a tax-free spin-off of NBCUniversal and Sky TV.
The break-up is expected to be completed within the next year. After the split, Comcast shareholders will own stock in both Comcast and a stand-alone NBCUniversal.
The split will hive off a media giant with sprawling operations including Universal Studios, the Peacock streaming platform and Sky outside the US from a broadband and wireless network business reaching 65 million homes and businesses across the US.
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The move follows a 30 per cent decline in Comcast’s share price over the past year, pushing its market capitalisation towards a 10-year low of $82.7 billion (€72.5 million). In January, Comcast spun off its cable television businesses, which include channels such as CNBC and the USA Network, as a separate group called Versant.
Comcast shares rose about 25 per cent in premarket trading after the announcement.
Brian Roberts, Comcast’s chair and chief executive, will continue to be “actively involved” in leading both companies following a reshuffle in the management team, Comcast said. Mike Cavanagh, Comcast’s co-chief executive, will become CEO of NBCUniversal, while Comcast’s former finance chief Michael Angelakis will lead Comcast. - Copyright The Financial Times Limited 2026
