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Comcast said it will separate into two publicly traded companies through a tax-free spinoff of NBCUniversal and Sky.

Current shareholders would receive shares in both companies under the planned split, Comcast said Monday.

The media business, which owns NBC News and Universal Pictures, will be separated from Comcast’s cable and internet business, ...

Comcast's NBCUniversal split should not disrupt Peacock or Xfinity right away, but it signals a deeper break between internet service and streaming perks as the old cable bundle loses power.

Comcast is spinning off its NBCUniversal entertainment and media assets into a separate publicly traded company.