Story perspectives

Comcast to spin off NBCUniversal, Sky under Mike Cavanagh

By Drooid · Oct 22, 2026, 3:29 PM UTC · How we work

Summary

Story summary

Comcast will spin off NBCUniversal and Sky under co-CEO Mike Cavanagh, naming Michael Angelakis CEO.
Comcast reported 2026 revenue of $29.3 billion, flat year-on-year, with adjusted earnings of $1.07 per share.
Peacock generated $261 million adjusted EBITDA on $1.8 billion revenue and grew paid subscribers 17% to 48 million.
Mobile lines added a net 368,000 customers as Comcast pivots toward wireless services.

History

Historical Context

In 1984, the U.S. Department of Justice forced AT&T to divest the Bell System, dismantling the telecom monopoly into seven regional companies. The settlement required AT&T to transfer $3.5 billion in assets, and the newly formed Baby Bells collectively generated $30 billion in annual revenue by 1990. Comcast’s 2026 decision to spin off NBCUniversal and Sky mirrors that historic breakup, as the media conglomerate seeks separate growth paths for content and wireless divisions. If the 1984 divestiture spurred competition and innovation, the current split could reshape advertising markets, accelerate broadband rollout, and trigger further regulatory scrutiny.

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Story summary

Comcast will spin off NBCUniversal and Sky under co-CEO Mike Cavanagh, naming Michael Angelakis CEO.
Comcast reported 2026 revenue of $29.3 billion, flat year-on-year, with adjusted earnings of $1.07 per share.
Peacock generated $261 million adjusted EBITDA on $1.8 billion revenue and grew paid subscribers 17% to 48 million.
Mobile lines added a net 368,000 customers as Comcast pivots toward wireless services.

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