Comcast plans to split into two publicly traded companies, separating NBCUniversal from its cable and technology operations. Mike Cavanaugh will lead NBCUniversal, while Michael Angelakis returns as CEO of the cable business. The move follows a 46% decline in Comcast shares over the past five years, with the stock trading near $25.22 on June 29, down from around $60 in 2021. The split formalizes a divide between the Connectivity & Platforms side, which includes broadband, wireless, and Sky, and NBCUniversal, which houses Peacock, Studios, and Universal Destinations. Peacock reported a $432 million quarterly EBITDA loss, and structural broadband competition raises doubts about whether the separation alone can reverse the decline.
Comcast CorpComcast plans to split into two public companies, a capital restructuring move, but the article notes structural broadband competition and Peacock losses, making the net impact unclear.