Comcast to separate media and tech wings; stock jumps 14%

comcast It plans to split its media and technology businesses into two publicly traded companies through a tax-free spin-off of NBCUniversal and Sky to better position strategic priorities, it said Monday.

In the statement made by the company, it was stated that the division is expected to be completed in about a year and Comcast shareholders will own shares in both Comcast and NBCUniversal.

Comcast shares rose as much as 14% in premarket trading.

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