Comcast says NBCUniversal split on track for mid-2027
Executives said on the third-quarter earnings call that the separation is well into its execution phase, with Mike Cavanagh set to lead NBCUniversal as a stand-alone company.
Comcast executives said on the company's third-quarter earnings call that the planned separation of NBCUniversal is well into its execution phase and remains on track to be completed by the middle of 2027, according to Deadline.
Comcast chairman and Co-CEO Brian Roberts said staff at both organizations are energized and excited about the proposed separation. The remarks came on the call covering the July-to-September quarter.
After the split, NBCUniversal will be led as a stand-alone entity by Comcast co-CEO Mike Cavanagh. He said the company is well into the execution phase, including building stand-alone public company infrastructure.
NBCUniversal drove the quarter with record box office from The Odyssey and strong World Cup viewership and ad revenue. Peacock posted its second consecutive profitable quarter, helped by Spanish-language World Cup broadcasts and Love Island USA. Comcast's quarterly revenue and earnings beat analyst expectations despite a 6% revenue decline.
The company is also taking a $1 billion charge in the fourth quarter tied to restructuring of its connectivity division, which will include layoffs of an unspecified number.
Earlier spin-off cited as template
Versant was proposed in late 2024 and completed a year later ahead of its January IPO.
Quick answers
When will the NBCUniversal split be completed?
Comcast expects the separation of NBCUniversal from its broadband, pay-TV and wireless division to be completed by the middle of 2027.
Who will lead NBCUniversal after the split?
Comcast co-CEO Mike Cavanagh will lead NBCUniversal as a stand-alone entity.
How did Comcast's third quarter perform?
Quarterly revenue and earnings beat analyst expectations despite a 6% revenue decline, with record box office from The Odyssey and a second consecutive profitable quarter for Peacock.