Comcast to Separate Into Two Companies, With NBCUniversal Set to Spin Off
In a media environment that's seen a surge in mergers and acquisitions, Comcast plans to divide into two businesses. The company announced on Monday that it plans to split its media and entertainment brand from its telecom business. NBCUniversal and Sky will spin off as a separate, independent entity. The separation is a tax-free transaction that will give Comcast shareholders stock ownership in both companies, and it's expected to be completed within a year.
The company cited competition and "rapidly changing markets" as reasons for the change, and aims to refine its focus with the split. Comcast points to its position in the technology sector serving broadband, wireless and cable customers, and spotlighted NBCUni's foothold in streaming, theme parks, movies and television. The announcement follows news that Comcast-owned Sky has committed to a $2 billion deal to buy ITV's streaming and broadcast arms.
"This is a very exciting day for...
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