Comcast To Spinoff NBCUniversal Into Separate Publicly Traded Company

Comcast said on Monday that the plan is to spin off NBCUniversal into a separate publicly traded company.

The independent NBCUniversal will include the Universal Pictures film studio, the NBC and Telemundo broadcast networks, NBC News, the streaming service Peacock, the cable channel Bravo, a lucrative theme parks division and Sky, a British TV broadcaster Comcast acquired in 2018.

“It’s time to split. They have better futures on their own,” Rich Greenfield, a partner and analyst at LightShed Partners, told CNBC. He said he believes Comcast and NBCUniversal’s core businesses are no longer compatible. “Those days are over,” he said.

The separation between Comcast and NBCUniversal is expected to be completed in about a year.

In a statement, Comcast said current investors will own shares in both new companies. The deal would create “two focused industry leaders, each with significant scale, strong financial profiles and distinct strategic opportunities. 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.”

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