India, June 29 -- Comcast Corporation (CMCSA) on Monday announced plans to separate its media and technology businesses into two publicly traded companies. Following the news, the company's shares surged more than 20% in pre-market trading.
The company intends to spin off NBCUniversal and Sky into a standalone media and entertainment company.
Comcast will concentrate on broadband, wireless and business services, while NBCUniversal will house the company's media and entertainment assets, including NBC, Telemundo, Peacock, Bravo, Universal Studios, theme parks and Sky.
Comcast said its Chairman and Co-Chief Executive Officer Brian L. Roberts will remain actively involved in both companies. Mike Cavanagh, currently Comcast's co-chief execut...