𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Comcast, the United States owner of Sky, has announced a major restructuring that will see the company split into two distinct, publicly listed entities.

The move aims to separate its sprawling media empire, NBCUniversal, from its core technology and telecommunications business, which will retain the Comcast name.

The newly formed NBCUniversal operation is slated to encompass the group’s extensive theme parks division alongside its European Sky business.

The spin-off is anticipated to be finalised within the next year.

Executives at the Philadelphia-based firm said on Monday that they believe this separation will better position each segment for enhanced growth and investment as independent operations.

The remaining Comcast entity will concentrate on its broadband, wireless, and entertainment platform services for both consumer and business markets.

Meanwhile, Mike Cavanagh will lead the new NBCUniversal media and entertainment company.

This business will cover theme parks, Universal film and television studios, NBC and Telemundo networks, Peacock, and Bravo, and Sky.

The deal comes amid an active period for Sky in the UK, as it continues its discussions to buy ITV’s media and entertainment operations, including its TV channels and ITVX streaming platform, for around £1.6 billion.

The wider group has been increasing investment in the UK in recent years and is currently pushing forward with plans to build the Universal United Kingdom Resort theme park, due to be completed in 2031.

Once the deal is complete, Comcast shareholders will own shares in both Comcast and NBCUniversal.

Comcast said it plans to keep a stake worth up to 19.9 per cent of NBCUniversal for up to a year after the demerger.

Brian L Roberts, chairman and co-chief executive of Comcast Corporation, said: “This is a very exciting day for our company.

“The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business.”