Comcast plans company split, sending shares soaring 22%

Spinoff of NBCUniversal and Sky will separate the company’s connectivity business from its film, theme park and streaming operations

Posted Monday, June 29, 2026 11:02 am

Jessica Toonkel and Gareth Vipers | The Wall Street Journal

Comcast plans to separate its media and connectivity businesses, creating two separate publicly traded companies it hopes will be better positioned to grow or pursue deals in rapidly evolving industries.

The cable giant plans to complete a tax-free spinoff of NBCUniversal and Sky, establishing a pure-play media company led by Mike Cavanagh, who is currently Comcast’s co-chief executive. Former Chief Financial Officer Michael Angelakis will return to run Comcast.

Shares in the company surged 22% premarket.

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Comcast plans company split, sending shares soaring 22%

Spinoff of NBCUniversal and Sky will separate the company’s connectivity business from its film, theme park and streaming operations

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