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Comcast shares surged 20% after the company said it will separate into two publicly traded companies through a tax-free spinoff of NBCUniversal and Sky from its cable business.
The announcement restructures one of the largest media and connectivity conglomerates in the United States, drawing a clean line between its cable infrastructure operations and its content and international broadcasting holdings.
The Split: What Goes Where The spinoff places NBCUniversal and Sky into a new, separately traded company while leaving the cable business as its own standalone entity.
NBCUniversal carries broadcast, cable network, film, and streaming operations. Sky is Comcast's European media and direct-to-consumer platform, acquired years ago as the company expanded beyond its domestic cable base.
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