Comcast to Spin Off NBCUniversal in Surprise Strategy Reversal

Description

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Comcast Corp. plans to spin off NBCUniversal and Sky, unwinding a strategy that began more than a decade ago after struggling to demonstrate that a cable and media conglomerate would benefit shareholders.A new company, NBCUniversal, will hold the theme parks division, Universal film and television studios, the NBC and Telemundo broadcast networks, Peacock streaming service, and Bravo cable channel as well as the European media business, Sky. Comcast will hold the company’s original cable-TV, broadband and wireless businesses.The deal, which came as a surprise to many investors, nevertheless reflects a trend as the media industry grapples with declining cable viewership.Separating the two businesses is “the only way to unlock value,” Vikash Harlalka, an analyst at New Street Research, said. The move is a precursor for allowing Comcast to focus on mergers and acquisitions in both the cable and media sectors once the separation is complete, Harlalka said.On this episode, Carol Massar Tim Stenovec speak with: Chris Palmeri, Bloomberg News Senior Editor and Entertainment Team Leader James Seyffart, Bloomberg Intelligence Senior Research Analyst on SpaceX ETF Frenzy Leads to Fund’s Trading Halt After 89% Surge / Leverage That Fueled US Stock Rally Becomes a Growing Concern Cynthia Chen, CEO, Kikoff on state of American consumer, credit card debt and Kikoff's credit building platform Former. Gov. Eric Holcomb (R-IN) and Co-Founder of RAISE US See omnystudio.com/listener for privacy information.