Comcast announced on June 29, 2026, plans to spin off its media businesses, NBCUniversal and Sky, into a separate publicly traded company, leaving its broadband and wireless operations under the main Comcast brand [1, 2, 3]. The separation is expected to complete within roughly one year from the announcement date [1, 2, 3].
After the spin-off, Comcast shareholders will retain stakes in both the new media company and the standalone Comcast broadband and wireless company [1, 2, 3]. The new media company will include NBCUniversal's film and television studios, theme parks, Peacock streaming service, NBC, Telemundo, Bravo, and the European media firm Sky [1, 2, 3]. Comcast will maintain up to a 19.9% ownership stake in NBCUniversal for up to one year post-spin-off and plans to monetize this stake in a tax-efficient manner [1, 3].
The remaining Comcast will focus exclusively on broadband, wireless, and business services, keeping the Comcast name and brand [1, 3]. Mike Cavanagh, current co-CEO of Comcast, will become CEO of the spun-off media company, with former Comcast CFO Michael Angelakis taking the CEO role at the remaining Comcast entity [1, 3]. Brian Roberts, Comcast chairman and co-CEO, will continue active leadership in both companies but will no longer serve as CEO [1, 3].
The spin-off follows Comcast's earlier 2025 separation of its cable TV networks into a company called Versant Media Group [4, 5]. Comcast cited increasing competition from streaming services and broadband rivals such as T-Mobile, Verizon, and SpaceX as reasons for the split [1, 4]. Brian Roberts said the move will "unlock a more entrepreneurial management approach" and open new growth opportunities for both firms [1]. He denied the spin-off was intended to prepare either company for sale, saying "Absolutely not" and that it was "the right move to put each company in the strongest position" [6].
On the day of the announcement, Comcast stock rose more than 20% in pre-market trading [1, 4, 3]. The new media company will adopt the same dual-class share structure as Comcast currently holds [7, 5].
The planned completion timeline aims to finalize the spin-off about one year after June 29, 2026 [1, 2, 3]. This will end around mid-2027 with NBCUniversal and Sky operating as an independent publicly traded media company while Comcast concentrates on connectivity services.
