Comcast announced Sunday, June 28, 2026 that it plans to separate NBCUniversal and Sky into a new public company, placing Universal theme parks inside the planned NBCUniversal business.
The park-facing point is ownership structure. Theme parks would sit with NBCUniversal’s film, television, streaming, sports, news, and Sky assets, while the remaining Comcast company would focus on broadband, wireless, business services, and entertainment platforms.
The split
The plan would create two independent publicly traded companies through a tax-free spin-off of NBCUniversal and Sky. Comcast shareholders would own shares in both Comcast and NBCUniversal after the transaction is completed.
The remaining Comcast business would center on broadband, mobile, business services, and entertainment platforms across its network and technology operations. NBCUniversal and Sky would form the media and entertainment company on the other side of the split.
The planned NBCUniversal company would include Universal’s theme parks division, Universal film and television studios, NBC, Telemundo, Peacock, Bravo, and Sky. NBCUniversal would be a global media and entertainment company anchored by leading theme park, film, television, and streaming assets.
The separation is expected to be completed in approximately one year. It remains subject to customary conditions, including final approval by Comcast’s board of directors, receipt of tax opinions, regulatory approvals, and financing arrangements.
Theme parks
Universal theme parks are part of the NBCUniversal side of the proposed split. NBCUniversal is anchored by its growing theme parks division, alongside its studio, network, streaming, sports, and news businesses.
Universal Destinations & Experiences is Comcast’s theme parks and attractions business. That keeps the theme park business inside the media and entertainment company named in the spinoff plan.
The proposed transaction is a company-level move. Theme parks are one of the major assets that would move with NBCUniversal and Sky into the new publicly traded company.
Leadership
Mike Cavanagh is expected to become chief executive officer of NBCUniversal after the separation. Comcast’s former chief financial officer Michael Angelakis is expected to become chief executive officer of Comcast after the transaction is completed.
Angelakis will join as a strategic advisor during the transition. Brian L. Roberts will continue to be actively involved in the leadership of Comcast and NBCUniversal, working with the CEOs of both companies.
NBCUniversal is also expected to have the same dual-class share structure as Comcast. Comcast expects to retain up to a 19.9 percent ownership position in NBCUniversal for up to one year after completion of the spin.
What to watch
The practical next step is whether the separation clears the required approvals over the next year. If completed, Comcast shareholders would hold shares in both companies, and Universal’s theme parks division would be part of a standalone NBCUniversal company.
For theme park fans, this is a corporate structure story for now. Universal parks would be grouped with NBCUniversal’s entertainment brands while the separation moves through approvals.
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Source: Comcast
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