Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeNewsTelecomComcast plans to spin off NBCUniversal and Sky into media unitComcast shares rose more than 20% in premarket tradingAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account. A Comcast sign is seen as the U.S. media group submitted a $30.7 billion bid for Sky on April 25, 2018 in Miami, Florida. Photo by Joe Raedle/Getty ImagesComcast Corp. said it plans to split its media and technology businesses, spinning off NBCUniversal and Sky into a separate publicly traded company.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorComcast shareholders will have stakes in both companies, the company said in a statement on Monday. The separation is expected to take place in a year, and requires board and regulatory approvals. NBCUniversal will have the same dual-class share structure as Comcast.The split will help the two companies focus on separate strategic priorities as the telecommunications business diverges from entertainment. NBCUniversal will hold the theme parks division, Universal film and television studios, NBC and Telemundo networks, Peacock, and Bravo as well as the European media business, Sky. The remaining Comcast will hold the company’s broadband, wireless and cable TV business.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againMike Cavanagh will be the chief executive officer of NBCUniversal, and Comcast’s former chief financial officer Michael Angelakis will be chief executive of Comcast. Comcast will keep a stake of up to 19.9 per cent in NBCUniversal for as much as a year after the spinoff is complete. Chairman Brian Roberts will “continue to be actively involved in the leadership” of both companies, Comcast said in the statement.Comcast shares rose more than 20 per cent in premarket trading before markets opened in New York. They closed at US$23.17 on Friday and have lost 22 per cent so far this year. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.