Comcast to spin off NBCUniversal and Sky into separate company
Comcast announced plans to split into two independent companies: one covering media (NBCUniversal and Sky) and the other focused on mobile and broadband networks. The tax-free spin-off is expected to be completed within a year, with existing shareholders receiving stock in both entities. The announcement sent Comcast shares up more than 20% on Monday. The move is a response to audiences shifting towards streaming and social media platforms.
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