Comcast to spin off NBCUniversal and Sky

Comcast announced on Monday, June 29, 2026, that it will spin off its NBCUniversal media and entertainment division, including the European broadcaster Sky, into a separate, publicly traded company. The move will unwind the conglomerate's structure, separating its broadband and wireless telecommunications operations from its vast content and media holdings.

The transaction is structured as a tax-free spinoff to existing Comcast shareholders, who will receive stock in both the new media company and the remaining connectivity-focused Comcast. The separation is expected to be completed in approximately one year, pending regulatory and board approvals.

Brian Roberts, the chairman and co-chief executive of Comcast, stated that the spinoff will unlock a more entrepreneurial management approach and open new opportunities for each business. Roberts will continue to be actively involved in the leadership of both companies. Upon completion, Mike Cavanagh, currently co-CEO of Comcast, will become the chief executive of NBCUniversal. Michael Angelakis, Comcast's former chief financial officer, will become the CEO of the standalone Comcast telecommunications company.