Comcast to Spin Off NBCUniversal and Sky in Tax-Free Corporate Split
By
Georg Szalai, Alex Weprin
Summary
Comcast announced a major corporate restructuring plan to split into two independent publicly traded companies through a tax-free spin-off of NBCUniversal and Sky. The move separates Comcast's media and entertainment assets from its technology and connectivity businesses. Brian Roberts will remain actively involved in both companies, with Mike Cavanagh becoming CEO of NBCUniversal and former CFO Michael Angelakis taking the helm at Comcast.
Source
Twitter / XComcast to Spin Off NBCUniversal and Sky in Tax-Free Corporate Splithollywoodreporter.comKey quotes
· 3 pulledFor more than sixty years, our company has grown by embracing change and investing for the future. Today is another one of those moments.
We believe this separation positions both businesses to unlock their full potential and deliver greater value for shareholders.
This transaction reflects our commitment to creating focused, independent companies that can better serve their customers and compete in their respective markets.
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