Comcast is spinning off its cable TV networks into a new public company called Versant, keeping Peacock and NBC while separating $7B in legacy cable assets.

The company said it expects the split to be completed within a year, with Comcast’s shareholders owning shares in both companies.

Comcast is planning to split itself into two separate publicly traded companies by spinning off NBCUniversal and Sky.

Comcast is set to divide into two separate, publicly traded entities, spinning off its NBCUniversal and Sky media assets. This strategic move will create distinct companies: one…