Comcast Shares Gain on Plan to Split Media, Connectivity Businesses Into Separate Cos.

By Connor Hart

Shares of Comcast jumped after the company said it plans to separate its media and connectivity businesses into two separate companies.

The stock climbed 23%, to $28.41, in premarket trading Monday. Through Friday's close, shares have lost roughly a third of their value over the past year.

The split will transform a titan of the connectivity and entertainment industries that has used its scale as a flywheel and to help fund new business ventures, The Wall Street Journal reported.

NBCUniversal will include Universal's film and television studios, its growing theme parks division, the NBC and Telemundo networks, Bravo, Peacock streaming service, and the European media business, Sky.

The remaining Comcast business will consist of the company's broadband, wireless and cable television operations. Comcast has been working to stem broadband and cable TV subscriber losses, while expanding its Xfinity Mobile wireless business.

The separation comes after Comcast earlier this year divested cable channels including MSNBC, CNBC, USA and Syfy into Versant.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

June 29, 2026 07:59 ET (11:59 GMT)