NBCUniversal, Universal Theme Parks to Become Separate Public Company Under Comcast Split

Comcast, the owners of NBCUniversal, have announced their plans to separate into two companies, initiating a tax-free spin off of NBCUniversal and Sky.

What's Happening:

• This plan would separate Comcast from NBCUniversal, the division that includes Universal Pictures, NBC, and the Universal theme parks.
• Upon completion of the transaction, Comcast shareholders will own shares in both Comcast and NBCUniversal, creating two focused industry leaders, each with significant scale, strong financial profiles and distinct strategic opportunities.
• Comcast believes that the split will allow each company to be "better positioned to pursue its own strategic priorities, invest for growth and create long-term shareholder value as independent entities."
• Brian Roberts will continue to be actively involved in the leadership of Comcast and NBCUniversal, working in partnership with the CEOs of both companies – Mike Cavanagh as CEO of NBCUniversal and Michael Angelakis as CEO of Comcast.
• The newly spun-off NBCUniversal will consist of its growing theme parks division, Universal film and television studios, NBC and Telemundo networks, Peacock, and Bravo. In addition, NBCUniversal’s global portfolio will include Sky, their European media business.

What They're Saying:

• Brian L. Roberts, Chairman and Co-Chief Executive Officer of Comcast Corporation: “This is 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. Mike Cavanagh will lead the new NBCUniversal media and entertainment company as CEO. 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."
• Mike Cavanagh, Co-Chief Executive Officer of Comcast Corporation: “Both companies begin this next chapter from positions of strength. 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.”