Sky under NBCUniversal umbrella in Comcast spin-off

Sky, the owner of Sky News, is to become part of NBCUniversal under a spin-off plan revealed by parent firm Comcast.

The US group said it was to create a Comcast focused on its business services, wireless and broadband operation.

The media and theme park empires would be hived off to form the separately-listed NBCUniversal.

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"NBCUniversal is a premier global media and entertainment company, anchored by its growing theme parks division, Universal film and television studios, NBC and Telemundo networks, Peacock, and Bravo", a statement to the market said.

"In addition, NBCUniversal's global portfolio will include Sky, our European media business. Together, these businesses will be powered by a portfolio of world-class intellectual property, a deep content library, extraordinary content creation capabilities, and exceptional strength across sports, news and entertainment.

"With iconic brands, valuable intellectual property, global distribution and leading creative talent, NBCUniversal will be strongly positioned to compete and grow in an evolving media landscape."

Brian Roberts, chairman and co-chief executive of Comcast Corporation, added: "This is a very exciting day for our company.

"The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business."

Shares, 17% down in the year to date and trading at levels not seen for 13 years last week according to LSEG data, were more than 25% up in US pre-market trading.

Comcast said the split was expected to be completed in about a year's time.

Comcast shareholders ​will own stock in both ​companies after the deal closes.

The spinoff was widely seen as confronting the fast-changing shifts in the entertainment sector, with streaming becoming the main battleground.

Sky has been in talks with ITV for months over a £1.6bn deal for its media and entertainment arm.

It is aimed at creating a UK-focused streaming giant amid the challenge posed by bigger, established US platforms such as Netflix and Amazon Prime Video.

The deal on the table includes the ITVX platform, along with ITV's free-to-air channels, but not ITV's studio operations.

(c) Sky News 2026: Sky under NBCUniversal umbrella in Comcast spin-off