Comcast to be split; NBCUniversal and Sky to be separate public companies

Comcast Corporation will be separating NBCUniversal and Sky into two independent publicly traded companies through a tax-free spin-off. 

Brian L. Roberts will continue to oversee the leadership of Comcast and NBCUniversal and work with the CEOs of both companies. 

While Mike Cavanagh will be the CEO of NBCUniversal, Comcast’s former CFO Michael Angelakis will become the CEO of Comcast, following completion of the separation and in the interim will join as a Strategic Advisor.

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.”

“I am also incredibly pleased to welcome back Michael Angelakis as Comcast CEO. As our widely admired former CFO, Michael’s deep knowledge of the business and passion for technology – combined with the leadership of Steve Croney, Jason Armstrong and the entire Comcast management team – will serve us well as we continue to take bold actions in today's competitive environment. Our recent momentum is the launchpad to propel our advanced network, substantial customer base, and outstanding products to even greater success.” 

Mike Cavanagh, Co-Chief Executive Officer of Comcast Corporation, said: “Both companies begin this next chapter from positions of strength. Comcast will continue to build on its leadership in connectivity, while NBCUniversal, together with Sky, will have the scale, brands, content and financial resources to compete as a premier global media and entertainment company. Each organization will continue to be led by a management team with deep industry experience that will benefit from focused strategic priorities and the ability to pursue opportunities most relevant to their businesses. I’m personally thrilled to continue leading NBCUniversal into the future. With our iconic brands and theme parks, leading franchises and incredible creative talent, we are well-positioned for long-term value creation.”

Michael Angelakis, added: "I have had the privilege of working alongside Comcast's talented leadership team for many years, and I am excited to return to partner with Brian, Steve, Jason and the entire organization. Comcast's exceptional assets, entrepreneurial roots, deep customer relationships and strong track record of innovation and technological leadership provide a powerful foundation for the future. Together, we will build on those strengths, execute aggressively, invest for growth, and pursue new opportunities to create value for our customers, colleagues and shareholders.”