Comcast Media Split

Comcast plans to split into two publicly traded companies by spinning off NBCUniversal and Sky in a tax-free transaction expected to close within about a year. The new media company will include assets such as NBC, Telemundo, Peacock, Universal Pictures, Sky and related entertainment businesses, while Comcast will retain its broadband, wireless and technology operations. Existing shareholders are expected to receive stock in both companies, giving investors separate exposure to Comcast’s connectivity business and its media portfolio. The move marks a major restructuring for the Philadelphia-based company as traditional media groups face pressure from streaming disruption, cord-cutting and shifting industry valuations.