Comcast (NASDAQ:CMCSA) spinoff of NBCUniversal and Sky exposes media profit gap
Comcast said it will spin off NBCUniversal and Sky into a separately listed company, giving shareholders two public stocks but also leaving the new media group with the weaker profit profile in Comcast’s latest segment data. The planned split separates Comcast’s broadband, wireless and business services arm from NBCUniversal’s studios, theme parks, Peacock, NBC, Telemundo, Bravo and Sky. The transaction is expected to close in about one year and still needs board, tax, regulatory and financing approvals.