The reorganization shifts NBCUniversal—encompassing Universal’s film and television studios, theme parks, the Peacock streaming service, and the European media business Sky—into a standalone structure. This follows the earlier spin-off of several cable channels, including MSNBC and CNBC, into a separate entity named Versant. The core Comcast business will now focus exclusively on broadband, wireless services, and traditional cable television.

Investors responded sharply to the news, pushing the stock to $28.41. The restructuring aims to revitalize a company that has seen its valuation slide by approximately one-third over the past year. While Comcast continues to grapple with subscriber attrition in its broadband and cable divisions, the company intends to leverage its Xfinity Mobile business as a primary growth engine within the leaner, connectivity-focused firm.