Comcast Expects NBCUniversal Split to Be Complete by Mid-2027
Comcast Expects NBCUniversal Split to Be Complete by Mid-2027
Comcast expects to separate NBCUniversal from its broadband, pay-TV and wireless business by the middle of 2027. The timetable came up on the company's third-quarter earnings call, the regular quarterly briefing where a company talks to Wall Street analysts about its results.
Brian Roberts, Comcast's chairman and co-chief executive, said there was "an energy and excitement with the proposed separation in both organizations." He told analysts that staff in both businesses were eagerly looking forward to the change. Deadline reported his remarks. Roberts also said: "We spent years building these businesses, and as the industry transforms itself, we're meeting the moment."
The plan dates back to June. Comcast announced it intended to split into two separate, publicly traded companies. The split is structured as tax-free, a design meant to avoid a large tax bill for the company and its shareholders. Reuters reported that Comcast shareholders will own stock in both companies once the separation closes.
Mike Cavanagh, Comcast's co-chief executive, will run the stand-alone NBCUniversal business. On the call he said Comcast is "well into the execution phase" of the split. That work includes building the systems and functions a public company needs to run on its own.
Comcast's third-quarter 2026 results showed $4.2 billion in free cash flow, meaning the cash left over after running the business and paying for investment. The company also said the separation of NBCUniversal and Sky, its European pay-TV arm, remains on track. Comcast's results release set out both points.
Comcast has done this kind of split before. It completed the tax-free separation of Versant Media Group, a cable-network business, on January 2, 2026, which left the company with a single spin-off already behind it. Roberts's comments suggest the next one is being approached in a similar way, with the two sides of the business preparing for life apart.
For people watching NBC, Peacock and the rest of the portfolio, the change is one of ownership and management structure. The company has not, in these remarks, said what it means for shows or schedules. The split is set to be finished by the middle of 2027.
