Comcast is splitting in two
Jess Weatherbed is a news writer focused on creative industries, computing, and internet culture. Jess started her career at TechRadar, covering news and hardware reviews.
Comcast has announced plans to separate itself into two publicly traded companies, spinning off its NBCUniversal and Sky broadcasting arms. The shake up aims to protect the media conglomerate’s profitable broadband and wireless brand, which will retain the “Comcast” company name, as its media and entertainment business — now collectively named “NBCUniversal” — faces increasing pressure from industry consolidation and streaming rivals.
The separation is expected to take approximately a year, with Comcast shareholders owning shares in both Comcast and NBCUniversal upon completion. While current Comcast CEO Brian L. Roberts will be “actively involved in the leadership” of both companies, co-CEO Mike Cavanagh has been selected to lead NBCUniversal, and Comcast’s former chief financial officer Michael Angelakis will become the Comcast CEO after the split.
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