NBCUniversal to be split from Comcast in latest media shakeup
Key takeaways
- The stock has had a rough run, falling more than 17% this year through Friday’s close, after two straight annual declines.
- It unwinds 15 years of consolidation at the company that brought together content and distribution, with both feeling the strain from the rapid rise of streaming, and sets up the two companies for more deals.
- It also alters the legacy of Comcast CEO Brian Roberts, who stormed the media world in 2011 when he bought NBCUniversal in a deal that valued the entertainment giant at nearly $40 billion.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Comcast (CMCSA.O) will split into two publicly traded companies through a spinoff of NBCUniversal and Sky, separating its cash-generating broadband arm from a media and entertainment business under pressure from streaming rivals and industry consolidation.
Shares of the company rose nearly 8% on Monday. The stock has had a rough run, falling more than 17% this year through Friday’s close, after two straight annual declines.
The proposed separation will create one company anchored by Comcast’s cable, wireless and business services arm and another built around Universal theme parks, film and TV studios, NBC, Peacock and the European media business Sky.