Comcast Bosses Say NBCU-Cable Separation ‘Absolutely Not’ Prelude to M&A Deals; ‘We’ve Now Simply Changed Our Mind’ That the Businesses Are Better Together
ONP Summary
Comcast announced plans to separate its operations into two distinct publicly traded companies: one housing media and entertainment assets including NBCUniversal and Sky, and the other containing cable, broadband, and wireless operations under the Comcast name. Current shareholders will receive shares in both resulting companies, with the separation expected to complete within a year; Mike Cavanagh will lead the media company while Michael Angelakis heads the technology-focused Comcast.
Progressive: Progressive outlets reported the announcement and market performance, with The Guardian highlighting concerns about Sky News' editorial independence in the restructured company.
Moderate: Centrist outlets focused on strategic business rationale, noting how the split protects Comcast's profitable broadband and wireless operations while establishing media assets as a standalone public company.
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More than 15 years ago, Comcast took its first steps toward taking over NBCUniversal.
Now it’s unwinding the media business from the broadband and TV pipes, planning to spin off NBCU and Sky into a stand-alone entity.
So what changed in the intervening years?
Mike Cavanagh, Comcast co-CEO who is set to become chief exec […] ...