NBCUniversal will operate as an independent company, bringing together the group’s media and entertainment portfolio, including NBC and Telemundo, streaming platform Peacock, Universal Studios, Bravo and Sky.
Comcast has announced plans to separate its media and technology businesses into two independent publicly traded companies, a move designed to accelerate the growth of both businesses and strengthen their ability to invest in increasingly specialized markets.
Going forward, NBCUniversal will operate as a standalone company encompassing the group’s media and entertainment assets, including NBC and Telemundo, streaming platform Peacock, Universal Studios, Bravo, Sky, its television and film studios, as well as its theme parks.
Meanwhile, Comcast will remain focused on its connectivity, infrastructure and technology businesses, including broadband, wireless, networking and enterprise solutions.
The company said the new structure will allow both businesses to pursue independent strategies, allocate capital more efficiently and respond more quickly to changes in their respective markets.
Under the new leadership structure, Mike Cavanagh will become CEO of NBCUniversal once the separation is completed, while Michael Angelakis will serve as CEO of Comcast. Brian Roberts will remain Chairman and continue to play an active role across both organizations.
According to Comcast, shareholders will receive equity stakes in both companies, while Comcast will retain up to a 19.9% ownership stake in NBCUniversal for up to one year following the completion of the transaction.
Comcast Chairman Brian L. Roberts described the separation as “a very exciting day” for the company, saying the transaction will enable each business to adopt a more entrepreneurial approach and unlock new growth opportunities. He highlighted that Mike Cavanagh will lead the new NBCUniversal as an independent company with some of the industry’s most valuable brands and assets, while Michael Angelakis returns to lead Comcast, building on the company’s technological strength, innovation and strong customer base.
Mike Cavanagh said both companies begin this new chapter from positions of strength. He noted that Comcast will continue to strengthen its leadership in connectivity, while NBCUniversal, together with Sky, will have the scale, brands, content and financial resources needed to compete as one of the world’s leading media and entertainment companies.
Michael Angelakis said he is excited to return to Comcast and work once again alongside Brian Roberts and the leadership team. He emphasized that the company’s assets, entrepreneurial culture, customer relationships and long history of technological innovation provide a strong foundation to drive growth, invest in new opportunities and create value for customers, employees and shareholders.
The company expects to complete the transaction within the next 12 months, subject to board and regulatory approvals.
The announcement represents one of the year’s most significant corporate moves for the media and entertainment industry, transforming NBCUniversal into an independent company exclusively focused on the creation, distribution and commercialization of content worldwide.
