Comcast announced Monday that it is planning to split into separate media and technology companies over the coming year. File Photo by John Angelillo/UPI | License Photo
June 29 (UPI) -- Comcast announced Monday that it is planning to split into separate media and technology companies over the coming year.
Comcast will split into two independent publicly traded companies in what it said is a "tax-free spin-off" of NBCUniversal and Sky. The companies will be NBCUniversal and Comcast.
When the split is finalized, Comcast shareholders will own shares in Comcast and NBCUniversal. The move is expected to be completed in about a year.
NBCUniversal will be a media and entertainment company and Comcast will be a technology company, focused on its wireless business, fiber network and global technology platforms.
