Comcast spins off NBCUniversal as it exits media entirely - Engadget

Xfinity will remain under Comcast's umbrella. Months after splitting off many of its cable networks into a separate entity, Comcast is breaking itself apart again. It plans to spin out NBCUniversal as its own publicly traded company. In other words, it's getting out of the media and entertainment business. NBC, Telemundo, Peacock, Bravo, Universal TV and film studios, theme parks and Sky (Comcast's European media business) will all be housed under NBCUniversal. Comcast will hang onto Xfinity and remain a cable, internet, landline and wireless provider. It'll also maintain its business services. "The proposed separation reflects Comcast's track record of positioning its businesses to compete and win in rapidly changing markets," Comcast said in a press release. "As technological innovation, consumer behavior and competitive dynamics continue to reshape both media and communications, Comcast's Board and management team believe each company will be better positioned to pursue its own strategic priorities, invest for growth and create long-term shareholder value as independent entities." NBCUniversal is slated to become a standalone company within the next year or so, pending final app