Comcast plans to separate NBCUniversal and Sky into an independent public company, putting Universal's theme parks in a new media and entertainment business led by Mike Cavanagh.
The tax-free spin-off is expected to take about one year and still needs customary approvals. Comcast shareholders would own shares in both Comcast and NBCUniversal after the transaction closes.
Universal Parks in NBCUniversal
Universal's parks business would remain inside NBCUniversal with the Universal film and television studios, NBC, Telemundo, Peacock, Bravo, and Sky.
Universal already has three large park projects in motion. Epic Universe opened in Orlando in 2025, Universal Kids Resort is scheduled to open in Frisco, Texas, on July 1, and Universal United Kingdom Resort has a 2031 target in Bedfordshire.
Comcast did not announce new park leadership, ride projects, opening dates, or operating changes with the separation plan.
Leadership and Timing
Mike Cavanagh would lead NBCUniversal as CEO. Comcast's former chief financial officer, Michael Angelakis, would become Comcast CEO after the split and join first as a strategic advisor.
Brian L. Roberts would stay involved with both companies, working with the CEOs of Comcast and NBCUniversal.
Comcast expects to keep up to 19.9% of NBCUniversal for as long as one year after the spin, then sell that stake over time.
Source and image: Comcast.
Image credit: Comcast.