Comcast has announced plans to separate its communications and technology business from its media and entertainment operations. Through a tax-free spin-off, it will create two companies under Comcast and NBCUniversal.
Under the proposal, NBCUniversal will include Universal Pictures, Universal Television, the NBC and Telemundo broadcast networks, Peacock, Bravo, Universal theme parks, and European media company Sky.
Comcast will retain its broadband, wireless, business services, and technology operations, the company said in its restructuring announcement on June 29. Shareholders will receive shares in both companies through a tax-free spin-off.
Chairman and Co-Chief Executive Officer Brian L. Roberts will remain involved with both companies after the separation….