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.
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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.
More to come.