Comcast to spin off NBCUniversal and Sky into separate public company
June 29, 2026 12.28 Europe/London By Julian Clover


Comcast has announced plans to separate its media assets, including NBCUniversal and Sky, into a standalone publicly traded company, reversing the strategy announced last year to spin off only its cable television networks.

The proposed tax-free transaction will create two independent businesses. Comcast will retain its broadband, wireless and business connectivity operations, while NBCUniversal will combine the company’s film and television studios, Peacock, NBC and Telemundo, Bravo, Universal theme parks and European pay-TV operator Sky under one media and entertainment company.

Current Comcast President Mike Cavanagh will become Chief Executive of the new NBCUniversal company, while former Comcast Chief Financial Officer Michael Angelakis returns to lead the remaining Comcast business. Chairman Brian Roberts will remain actively involved with both companies.

Comcast said the separation would allow each business to pursue its own strategy as media consumption and communications markets continue to evolve.

A newly independent NBCUniversal would own Sky’s core European businesses in the UK & Italy while potentially adding ITV’s broadcasting operations, creating one of Europe’s largest commercial television groups spanning free-to-air, pay television, streaming, sports, news and film production.

The remaining Comcast will focus on broadband, wireless and business connectivity, serving more than 65 million homes and businesses. NBCUniversal will bring together its television networks, streaming, studios, sports, news, theme parks and Sky’s European operations under a single global media company.

The spin-off is expected to complete in around a year’s time, subject to shareholder, regulatory and tax approvals. Comcast intends to retain a stake of up to 19.9% in NBCUniversal for up to one year following completion before gradually selling its remaining holding.

Brian Roberts said the transaction would create “two focused industry leaders”, while Mike Cavanagh said NBCUniversal and Sky would have the scale, brands and financial resources to compete as a leading global media and entertainment company.

The move follows last year’s spin-off of Comcast’s cable networks, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel into the publicly traded Versant.