Comcast plans to turn its NBCUniversal and Sky businesses into a new publicly traded company, CNBC reported.
The company said the move will be completed in about a year.
“As we look ahead, it has become clear that our technology and media businesses each have compelling opportunities in front of them that are distinct in nature and best pursued with dedicated focus, strategic flexibility and tailored investment priorities,” co-CEO and Chair Brian Roberts said on a call with investors Monday.
“That is why today we announced an important next step in Comcast’s evolution. Our plan to create two separate companies, Comcast and NBCUniversal.”
Comcast shares rose nearly 9% after the announcement.
Comcast co-CEO Mike Cavanagh will become CEO of NBCUniversal; Comcast’s former chief financial officer, Michael Angelakis, will become CEO of Comcast.
