Comcast executives say separating NBCUniversal and Sky will better position both companies for long-term growth.
More than 15 years after acquiring NBCUniversal, Comcast is preparing to separate its media business from its cable and broadband operations, marking one of the company's biggest strategic shifts in more than a decade.
Future success for each business will depend on greater focus, speed, and strategic flexibility.
Executives said the separation reflects how dramatically the media business has changed since Comcast acquired NBCUniversal more than 15 years ago.
Under the plan, NBCUniversal and Sky will become a standalone media company, while Comcast's cable and broadband businesses will continue operating separately. The transaction is expected to be completed in mid-2027.
Mike Cavanagh, who will become CEO of the new media company following the separation, said Comcast no longer believes the advantages of operating the businesses together outweigh the benefits of allowing each company to focus on its own long-term strategy.
“Future success for each of our businesses will depend on focus, speed and strategic flexibility that this separation will unlock,” Cavanagh said during a call with Wall Street analysts.
Comcast Chairman and co-CEO Brian Roberts described the move as an effort to strengthen both companies rather than dismantle them, saying each business will be better positioned to invest, grow, and respond to changing consumer behavior.
The separation follows another major restructuring completed earlier this year, when Comcast finalized the spin-off of Versant Media, which includes CNBC, MSNBC, USA Network, Fandango, and several other media assets.
Comcast has also remained active in pursuing larger media opportunities. In late 2025, the company submitted a proposal involving Warner Bros. Discovery before the studio ultimately became part of the $111 billion Paramount Skydance transaction.
Roberts also pointed to Peacock's continued growth, noting that Comcast expects the streaming service to become profitable during the second quarter of 2026, less than six years after its launch.
Once completed, the separation will leave Comcast with two independently operated companies, each focused on different areas of the entertainment and communications industries.
