Comcast to Spin Off NBCUniversal and Sky Into Separate Public Company; Stock Jumps 24%
The Hill—Comcast announced it will spin off NBCUniversal and Sky into an independent publicly traded company, separating its media assets from its core cable and broadband business. The new entity will include NBC broadcast, Peacock, Bravo, and Sky — which Comcast acquired for £31 billion eight years ago. The split is expected to take roughly one year to complete. Comcast shares surged 24% on the news as investors welcomed the breakup of the cable-media conglomerate.
- The Hill — Spinoff gets Peacock, Bravo, and NBC; Comcast retains broadband and wireless
- Drudge Report — COMCAST to Spin Off NBCUNIVERSAL Into Separate Company
- Memeorandum — Sky included in the spinoff alongside NBCUniversal
- Google News Top — Comcast stock surged 24% on the breakup announcement
- Guardian — Sky acquired for £31bn eight years ago; split process takes about one year
- Financial Times — Comcast to spin off NBCUniversal and Sky
- NBC News — Split separates media assets from Comcast's cable and wireless divisions
- NBC News — Comcast to spin off NBCUniversal into a separate company