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Comcast to spin off NBCUniversal in tech, media split

Comcast is splitting in two. The cable and internet giant announced on Monday that it will spin off NBCUniversal and Sky from its cable and technology divisions to form two publicly traded companies. Comcast shares jumped 9% intraday on the news. The new entertainment company will include theme parks, television and film studios, and the streaming Peacock service. Mike Cavanagh, Comcast’s current co-CEO, will run the new NBCUniversal, while former CFO Michael Angelakis will take the helm at Comcast. The move should be completed in the next year.

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