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Posted on 06/29/2026 5:46:36 PM PDT by Red Badger
June 29 (Reuters) - Comcast (CMCSA.O), opens new tab will split into two publicly traded companies through a spinoff of NBCUniversal and Sky, separating its cash-generating broadband arm from a media and entertainment business under pressure from streaming rivals and industry consolidation.
Shares of the company rose nearly 8% on Monday. The stock has had a rough run, falling more than 17% this year through Friday's close, after two straight annual declines.
The proposed separation will create one company anchored by Comcast's cable, wireless and business services arm and another built around Universal theme parks, film and TV studios, NBC, Peacock and the European media business Sky. It unwinds 15 years of consolidation at the company that brought together content and distribution, with both feeling the strain from the rapid rise of streaming, and sets up the two companies for more deals.
It also alters the legacy of Comcast CEO Brian Roberts, who stormed the media world in 2011 when he bought NBCUniversal in a deal that valued the entertainment giant at nearly $40 billion.
Since then, cord-cutting has eroded profits of the cable TV business of legacy media players, forcing them to seek scale to better compete with streaming giant Netflix (NFLX.O), opens new tab. Paramount (PSKY.O), opens new tab won a bidding war for Warner Bros Discovery (WBD.O), opens new tab in February with its $110 billion bid to create an industry giant.
Comcast, which leans on cable for much of its cash flow, is also losing broadband customers to fixed wireless offerings from U.S. carriers such as T-Mobile (TMUS.O), opens new tab and Verizon (VZ.N), opens new tab and to fiber rivals that are aggressively building out networks.
(Excerpt) Read more at reuters.com ...
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Cool, maybe it’s time for GE to buy it...again.
Cool, maybe it’s time for Elon to buy it!......................
NBC is tanking !
Roll out the champagne cart !
Here’s $10...give me my change.
Who G’s a S!?
As the article says , NBC-Universal will become a takeover target.
Elon?.......................
I saw a survey once that listed Comcast as the most hated company in the US. But that may have changed.
I'm picturing the screaming if that happened. ;)
I think Elon wants to make moonbases more than movies.
The Murdock spawn will be salivating over the prospect however...
Can never get enough of the No It!!
Interesting. NBCUniversal/Peacock has been struggling. The Big Tech players are starting to unwind the streaming fiasco. Having destroyed the business model that used to support making good movies and shows, the tech bros will now just shrug and walk away. Good riddance.
The movie and tv business has plenty of other problems, but maybe it will again be run by companies whose top execs are film and tv professionals. At least some of them will want to invest in quality shows, still remember what they looked like, and understand that all content is not fungible just because it can be reduced to pixels.
Cord cutting has led to the end of good movies and television shows, and towards a narrowcast model that is creating a bigger mess.
I find family members watch illegally uploaded shows on a 9:16 perspective instead of HD in 16:9. They only care for convenience and piracy instead of legitimate. I’ll watch live news and sports. Live weather too. Few shows but the problem in entertainment is similar to vehicles where bean counters replaced the car guys.
Netflix will destroy the FIFA Women’s World Cup with unwatchable propaganda for their shows and pro-Any Twosome material. They are worse than ESPN when it comes to woke activism.
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