Comcast to Spin Off NBCUniversal and Sky Media into Separate Public Company
By
Max Goldbart
Summary
Comcast announced it will spin off its media business (NBCUniversal and Sky) from its broadband and wireless technology operations into two separate public companies. The tax-free spin-off, following a model similar to Warner Bros. Discovery, is expected to take about a year to complete. Comcast Co-CEO Mike Cavanagh will run the NBCUniversal/Sky media business, while former CFO Michael Angelakis will become CEO of the remaining Comcast technology company, serving as Strategic Advisor in the interim.
Source
DeadlineComcast to Spin Off NBCUniversal and Sky Media into Separate Public Companydeadline.comKey quotes
· 3 pulledComcast is to formally separate its media business encompassing NBCUniversal and Sky from its broadband and wireless biz into two public companies.
Following the example of the likes of Warner Bros. Discovery, the tax-free spin-off should complete in about a year.
The NBCUniversal business will house Sky and be run by Comcast Co-CEO Mike Cavanagh.
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