Verizon-BT joint venture formed; Comcast to spin off NBCUniversal and Sky

Verizon and the UK's BT Group have agreed to create a joint venture combining their low-margin international business units, freeing both carriers to focus on their home markets. Separately, Comcast announced it will spin off NBCUniversal and its European media unit Sky into a new, independently traded company. Comcast will retain its cable-TV, broadband and wireless businesses.