Comcast is spinning off NBCUniversal and Sky | Infinium-tech

Comcast is spinning off NBCUniversal and Sky into a new company. Following the split, Comcast will own cable, wireless and business services, while the new company will take over Universal’s theme parks, film and TV studios, NBC, Peacock and Sky.

The move practically undoes Comcast’s acquisition of NBCUniversal in 2011. So after 15 years of consolidation, it’s time for some de-consolidation. Interestingly, Comcast CEO Brian Roberts will remain “actively involved” in leading both companies after the split.

Roberts, whose father Ralph founded the company in 1963, controls about a third of Comcast’s voting power and is likely to be able to do the same for the new company because it will have a similar dual-class share structure.

Comcast co-CEO Mike Cavanagh will run NBCUniversal, and former CFO Michael Angelakis will lead Comcast as CEO. Comcast’s existing shareholders will own stock in both companies after the spinoff closes, which is expected to happen in a year.

Analysts think the move will make NBCUniversal an attractive acquisition target, especially for Netflix, which recently lost to Paramount in a bidding war for Warner Bros. Comcast executives, on the other hand, have downplayed this possibility, saying the split is about “putting each company in the strongest position to create value, fully monetize its assets, and aggressively pursue its own organic growth strategies.”

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