Comcast to Split NBCUniversal and Cable Operations Into Two Companies
Comcast, just months after shedding most of its cable TV business into Versant Media, is now again cleaving itself into two separate companies: one housing its namesake cable and tech operations, and the other comprising the NBCUniversal and Sky media biz.
Under the proposed separation, announced Monday, Comcast intends to make a tax-free spin-off of NBCUniversal and Sky. After the transaction is completed, Comcast shareholders will own shares in both Comcast and NBCUniversal.
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The split will create “two focused industry leaders, each with significant scale, strong financial profiles and distinct strategic opportunities,” the media conglomerate said. Comcast is targeting mid-2027 to consummate the separate but its boilerplate disclaimer noted that there “can be no assurance that the proposed transaction will be completed or, if completed, as to its terms or timing.”
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Comcast bought a controlling 51% stake in NBCU in a 2009 deal (approved in 2011), before acquiring the remaining equity in the media company from General Electric in March 2013 to take full control. The original idea was to wed Comcast’s giant cable footprint with NBCU to create synergies between distribution and content.
Now, according to Comcast, the landscape has changed.
“As technological innovation, consumer behavior and competitive dynamics continue to reshape both media and communications, Comcast’s board and management team believe each company will be better positioned to pursue its own strategic priorities, invest for growth and create long-term shareholder value as independent entities,” Comcast said.
Brian Roberts, Comcast chairman and co-CEO, will continue to be “actively involved in the leadership of Comcast and NBCUniversal,” working with the CEOs of both companies.
Mike Cavanagh, currently co-CEO of the parent company, will become the CEO of NBCUniversal. The Comcast cable company will be led by Michael Angelakis, Comcast’s former CFO who has served as chairman and CEO of investment fund Atairos Group since 2015. Angelakis will become CEO of Comcast following completion of the separation and in the interim will join as a strategic adviser.
NBCU will have the same dual-class share structure as Comcast. Roberts retains about one-third voting control in Comcast through his ownership of Class B super-voting shares. Comcast expects to retain a stake of up to 19.9% ownership position in NBCUniversal for up to one year after the completion of the spin, which it “intends to monetize in a tax-efficient manner over time.”
Roberts, in prepared remarks about the plan, called it “a very exciting day for our company.”
“The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business. I very much look forward to helping guide our collective growth for this next chapter,” Roberts said.
As of the start of 2026, Cavanagh has served as co-CEO of Comcast alongside Roberts, whose father Ralph Roberts founded the company. About Cavanagh, Brian Roberts said, “Mike is one of the finest executives I’ve ever worked with and a trusted partner. His vision is for a unique, independent, focused company that will be home to some of the industry’s most valuable brands and assets across theme parks, film, television, streaming, sports and news. This new company will be well-positioned to pursue the significant opportunities that lie ahead, to partner across the media and entertainment ecosystem, and will be poised to grow.”
Cavanagh said both Comcast Cable and NBCU “begin this next chapter from positions of strength.” He commented, “Comcast will continue to build on its leadership in connectivity, while NBCUniversal, together with Sky, will have the scale, brands, content and financial resources to compete as a premier global media and entertainment company. Each organization will continue to be led by a management team with deep industry experience that will benefit from focused strategic priorities and the ability to pursue opportunities most relevant to their businesses. I’m personally thrilled to continue leading NBCUniversal into the future. With our iconic brands and theme parks, leading franchises and incredible creative talent, we are well-positioned for long-term value creation.”
Roberts, about recruiting Angelakis back to Comcast to run the stand-alone cable company, said the exec has “deep knowledge of the business and passion for technology” and added, “Michael’s drive, proven track record and the tremendous level of respect he commands within our organization and beyond, make me exceptionally excited to work closely with him again.”
Angelakis, for his part, commented: “Comcast’s exceptional assets, entrepreneurial roots, deep customer relationships and strong track record of innovation and technological leadership provide a powerful foundation for the future. Together, we will build on those strengths, execute aggressively, invest for growth, and pursue new opportunities to create value for our customers, colleagues and shareholders.”
The separation of Comcast Cable and NBCU/Sky is subject to “the satisfaction of customary conditions,” including final approval by Comcast’s board of directors, receipt of tax opinions, regulatory approvals and the completion of financing arrangements.
Comcast’s cable business sells its broadband, wireless and entertainment services, with more than 30 million relationships with residential and business customers across the U.S.
NBCUniversal comprises NBC and Telemundo broadcast networks, Peacock, Bravo, Universal film and television studios, and the Universal theme parks division. The spun-off NBCU will include Sky, Comcast’s European media business.
In January 2026, Comcast completed the separation of Versant (pronounced “VERSE-ant“), a business that includes CNBC, MS NOW (formerly MSNBC), USA Network, Golf Channel, Oxygen, E!, Syfy, Fandango, Rotten Tomatoes, GolfNow and GolfPass. Notably, Bravo remained part of NBCU, as its programming drives a sizable portion of viewing the Peacock streamer.
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Badenoch blasts 'moaning' female Labour MPs over Burnham jobs 'quota'
Kemi Badenoch has told Labour women to earn a job in Andy Burnham's Cabinet instead of demanding they are handed jobs because of their gender.
The Tory leader lashed out today amid reports that female MPs are demanding the de-facto new prime minister introduce a 50:50 gender split 'quota' in his government.
Amid reports that former foreign secretary David Miliband is being lined up to return to the role, possibly with his brother Ed as Chancellor, one female minister also complained that Burnham could not have 'more Milibands than women' in the top posts.
But in a scathing article in the Times today Mrs Badenoch told them to 'stop moaning' and get chosen on merit instead of retreating into 'more of the failed identity politics that is holding back our country'.
'There are many, many reasons why you shouldn't have any Milibands in the cabinet,' she said.
'But complaining that the boys haven't given them the right jobs or that the boys are taking all the jobs, just shows that Labour's women still don't get it.'
The idea of quotas was also attacked by Baroness Jacqui Smith, Labour's Skills Minister.
Asked by Times Radio if Mr Burnham should reserve jobs for women, she said: 'No, I think what Andy Burnham should be doing is building the very best team around him to change this country.'
A letter written by the Women's Parliamentary Labour Party has called on Mr Burnham to ensure a 50:50 split between men and women in government jobs
Amid reports that former foreign secretary David Miliband (above, right, in 2010) is being lined up to return to the role, possibly with his brother Ed as Chancellor, one female minister complained that Burnham could not have 'more Milibands than women' in the top posts
But Mrs Badenoch told them to pipe down and get chosen on merit instead of retreating into 'more of the failed identity politics that is holding back our country'
A letter written by the Women's Parliamentary Labour Party and seen by the BBC has called on Mr Burnham to ensure a 50:50 split between men and women in government jobs after he succeeds Sir Keir Starmer.
'We are asking you to demonstrate this change from day one and address the toxicity and misogyny within our own party and government,' it said.
Labour has never had a female leader, while the Conservatives have had three, and Mrs Badenoch urged the government to follow its meritocratic example.
'If you run a meritocracy, then you do not have to worry about jobs for the boys,' she wrote.
'Every woman who is a Conservative MP, every woman who has ever won the leadership, has had to fight to get where she is.
'By contrast, Labour women are demanding guarantees from Burnham. But the truth is he doesn't have to give any guarantees.
'If none of Labour's women are prepared to get their hands dirty and challenge him for the leadership, their demands are toothless.'
'In fact, it's quite revealing that the women's parliamentary Labour Party has written to Burnham asking him to commit himself to at least 50 per cent female ministers.
'This has nothing to do with meritocracy. It is yet more of the failed identity politics that is holding back our country.'
