Comcast announced on June 30, 2026, that it will spin off its NBCUniversal media and entertainment division into a separate, publicly traded company. The move separates content assets including Universal studios, theme parks, and Peacock from core connectivity services. The connectivity business will retain the Xfinity cable, broadband, and wireless brands.
The restructuring aims to provide each company with greater strategic focus and financial flexibility. Mike Cavanagh will serve as CEO of NBCUniversal. Michael Angelakis will lead Comcast as CEO.
Comcast stock (CMCSA) rose 2.5% in pre-market trading following the announcement. The share price continued to climb during the regular trading session.