The US entertainment giant Comcast will separate its various operations into two independent publicly traded companies.
Post split, NBCUniversal will house Sky, the Universal film and television studios, the NBC and Telemundo networks, Peacock, and Bravo, plus Sky. It will own all content libraries and intellectual property associated with the various studios’ franchises and brands.
Meanwhile Comcast will focus on broadband, connectivity and telecoms.
In a statement, the business said its Board and management team believe each of the new companies “will be better positioned to pursue its own strategic priorities, invest for growth and create long-term shareholder value as independent entities”.
Existing Comcast shareholders will own shares in both of the new businesses.
Brian L. Roberts, Chairman and Co-Chief Executive Officer of Comcast Corporation, said: “This is a very exciting day for our company.
“The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business. I very much look forward to helping guide our collective growth for this next chapter.