Comcast to spin off NBCUniversal and Sky into separate public company

Comcast has announced plans to split into two independent publicly traded companies, separating its broadband and wireless business from its media and entertainment assets. The media division, which includes NBCUniversal and Sky, will operate under the NBCUniversal name, while the core telecom business retains the Comcast brand. The restructuring is designed to shield Comcast's profitable connectivity segment from mounting pressures facing the media industry, including streaming competition and sector consolidation. The split is expected to be completed within roughly one year, after which current shareholders will hold stakes in both companies. CEO Brian L. Roberts is expected to remain involved in the process going forward.