Comcast, just months after shedding most of its cable TV business into Versant Media, is now again cleaving itself into two separate companies: one housing its namesake cable and tech operations, and the other comprising the NBCUniversal and Sky media biz.
Under the proposed separation, announced Monday, Comcast intends to make a tax-free spin-off of NBCUniversal and Sky. After the transaction is completed, Comcast shareholders will own shares in both Comcast and NBCUniversal.
The split will create “two focused industry leaders, each with significant scale, strong financial profiles and distinct strategic opportunities,” the media conglomerate said.
More to come.
Source: variety.com
