Comcast shares surge 17% as company announces NBCUniversal, Sky spin-off plan

Comcast Corp shares surged 17% to a seven-week high of $27.10 after the company announced plans to spin off NBCUniversal and Sky into a separately listed public company. The tax-free spin-off will create a pure-play media entity comprising theme parks, film studios, NBC and Telemundo networks, Peacock, and Sky, while Comcast will focus on broadband and wireless. Existing shareholders will own shares in both entities, with the separation expected within a year and Comcast retaining around a 20% stake post-spin-off.