Comcast announced on June 29, 2026, that it will spin off its media operations, including Sky and NBCUniversal, into a separate publicly listed company within the next year.
The move isolates its entertainment division from its broadband and mobile services.
According to Comcast, the separation will leave investors holding shares in both Comcast—which will service 65 million US homes with broadband and mobile—and the newly formed NBCUniversal entity.
This decision comes eight years after the American conglomerate acquired the European operations of Sky for £31 billion.
The media division restructuring follows a previous shift earlier this year when Comcast spun off several US cable networks, including MSNBC, E!
, and SYFY, into a separate publicly traded company named Versant amid declining traditional TV viewership.
Brian Roberts, co-chief executive of Comcast, said the move will "unlock a more entrepreneurial management approach."
He noted that the NBCUniversal business, which includes Peacock, NBC, and various sports and news assets, will be under the leadership of Mike Cavanagh.
"His vision is for a unique, independent, focused company that can be home to some of the industry’s most valuable brands and assets across theme parks, film, television, streaming, sports and news," Roberts said.
He added that the entity is positioned for growth and future partnerships within the media ecosystem.
The strategic spin-off raises long-term funding questions for Sky News, which operates on an approximate £100 million annual budget while generating estimated losses of up to £80 million.
The 10-year funding commitment Comcast made to Sky News during the 2018 acquisition is nearing its expiration date.
David Rhodes, executive chair of Sky News, said the Comcast commitment provides Sky News with more security than most other organisations, and that the parent company has been "supportive of our independence every step of the way."
The transition follows several international adjustments for Sky, including the termination of a licensing agreement with News Corporation for Sky News Australia, which will rebrand as News24.
Additionally, Sky recently exited Sky News Arabia, a joint venture in the United Arab Emirates that faced criticism over its Sudan conflict coverage.
Dana Strong, chief executive of Sky, told staff last year that the broadcaster would continue to back Sky News regardless of any ongoing support by Comcast, which has cut jobs at NBC News in the US.
Furthermore, Sky is currently preparing to officially announce a £1.6 billion takeover of ITV's media and entertainment operations.
If approved by regulators, the newly formed spin-off company will control a 40 percent stake in ITN, which produces news for ITV, Channel 4, and Channel 5.
