How Have Markets Reacted?
In premarket trading early on Monday, Comcast’s shares soared to $29.23, up more than 26% from Friday’s close. The premarket surge has nearly wiped the slump in Comcast’s stock price since the start of this year. The company was one of the key bidders—after Paramount and Netflix—looking to acquire Warner Bros. Discovery last year.
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Will comast hold any stake in the spunoff NBC Universal?
In the announcement, Comcast said it expects to retain “up to 19.9% ownership” stake in NBCUniversal for a up to a year after the spinoff’. The spunoff media company will have the same dual-class share structure and Comcast plans to “monetize ” its post-spinoff holding in a “tax-efficient manner over time.”
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tangent
The decision to spin off NBCUniversal into a separate business comes just half a year after Comcast spun off its cable networks, under a new company called Versant Media. The Versant spin-off plan was first announced in late 2024 and officially approved by the company’s board last year. Versant, which began operating at the start of this year, now owns and operates cable networks including CNBC, USA Network, MSNOW (formerly MSNBC), Syfy and others.