Comcast to Spin Off NBCUniversal and Sky

Comcast plans to split into two publicly traded companies, spinning off NBCUniversal and Sky from its core connectivity operations.

Co-CEO Brian Roberts insisted the move is not a prelude to M&A but a strategic decision to let both businesses focus.

The new media company will be led by Mike Cavanagh, while Michael Angelakis heads the remaining broadband and wireless unit.

The split is expected to take about a year and underscores the erosion of the traditional cable bundle.