Comcast's Stock Having Best Day in 18 Years After Plan to Spinoff Nbcuniversal

Dow Jones06-29

Spinoff plans come 15 years after NBCUniversal was acquired, and about six months after the Versant separation was completed

Comcast said it is going to spin off NBCUniversal.

Shares of Comcast soared in early trading Monday as investors cheered the internet and phone-services company's plan to keep shedding its media businesses, with the announcement that NBCUniversal will be spun off into a separate publicly traded company.

The announcement comes 15 years after Comcast $(CMCSA)$ acquired NBCUniversal, and about six months after the company completed the spinoff of Versant Media Group $(VSNT)$, which owns media properties including CNBC, USA Network, MS NOW (formerly MSNBC) and Fandango Media.

Comcast (CMCSA) said NBCUniversal will include its growing theme-parks division, Universal's film and television studios, and networks NBC and Telemundo, Peacock and Bravo. In addition, NBCUniversal's global portfolio will include Sky, the European media business.

Mike Cavanagh, the current co-CEO of Comcast, will lead the company.

Comcast's stock shot up 21.8% in premarket trading, enough to pace the S&P 500 index's SPX early gainers. The rally put the stock on track to have its best day, in terms of percentage gains, since Oct. 28, 2008, according to Dow Jones Market Data.

After the spinoff, the remaining business, which will keep the Comcast name, will focus on its broadband and wireless business. Michael Angelakis, the former CFO, will become CEO.

Comcast said it expects the tax-free spinoff in approximately one year and that it will hold up to 19.9% of NBCUniversal at the outset.

The spinoff of Versant took a little more than a year to complete, as the plans were announced on Nov. 20, 2024. Versant's stock began trading on Jan. 5, 2026.

This is a developing story.

-Steve Goldstein

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(END) Dow Jones Newswires

June 29, 2026 07:54 ET (11:54 GMT)

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Comcast's Stock Having Best Day in 18 Years After Plan to Spinoff Nbcuniversal

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