June 29, 2026
Thom Carroll/For PhillyVoice
Comcast will split NBCUniversal into a separate company, the internet giant announced Monday. Above, the Comcast Center in Philadelphia.
Comcast will split NBCUniversal and its European media company Sky into a separate entity, the Philadelphia-based cable and internet giant said Monday.
The change means that Comcast will be one entity focused on broadband and wireless service, and NBCUniversal, which includes the Universal movie studio and theme parks as well as streaming service Peacock, will be another. Comcast expects the spinoff, which will require regulatory approval, to take about a year. Current shareholders will maintain shares in both companies.
Mike Cavanagh, the current co-CEO, will be the new CEO of NBCUniversal, and former chief financial officer Michael Angelakis will serve as strategic adviser over the next year before taking the reigns as Comcast CEO. Brian Roberts, the current chairman and co-CEO of Comcast, will maintain an active role in both companies.
According to a statement from Comcast, leadership believes that both companies will be better positioned to invest in their own growth and strategic growth and be more valuable as separate entities.
"Both companies begin this next chapter from positions of strength," Cavanagh said in a statement. "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."
Comcast, which is headquartered in Center City, operates Xfinity internet and reaches about 65 million homes and businesses. NBCUniversal will focus on its "intellectual property" and "deep content library," which includes operating Telemundo and Bravo, as well as new content creation.
The move follows Comcast's decision to spin out Versant Media, which included cable channels CNBC and MS NOW and movie company Fandango, in January.
