Comcast to Spin NBCUniversal into Standalone Firms

Comcast will spin off NBCUniversal into two independent, publicly traded companies, separating NBCU from Comcast's cable and broadband operations. NBCU will keep Sky, the Universal film studio, the theme parks and the Peacock streaming service, while Comcast retains a 19.9% stake in NBCU for the first year to help pay down debt. The executives say the move will unlock focus, speed and strategic flexibility for two standalone firms and is not a merger. NBCU has expanded sports investments such as an NBA rights deal and Peacock is expected to approach profitability in the coming years.