Comcast is dividing into two distinct companies, one encompassing its cable and technology operations and the other housing NBCUniversal, including Sky. This move follows Comcast’s recent divestment of most of its cable TV business into Versant Media.
The separation will result in Mike Cavanagh becoming the CEO of NBCUniversal. Michael Angelakis, formerly Comcast’s CFO, will serve as the CEO of the company focused on cable and technology, according to reports from Variety and The Hollywood Reporter.
This restructuring comes after Comcast shed a significant portion of its cable TV business by creating Versant Media. Details regarding the financial implications and timeline for the complete separation have not been disclosed in these sources.
The Hollywood Reporter notes that Cavanagh will lead NBCUniversal, while Angelakis will head the remaining Comcast operations. No further details on specific leadership changes within either company were provided.
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