Comcast Corporation is planning to split into two separate, publicly traded companies: Comcast and NBCUniversal (which will include Sky). This separation will be executed as a tax-free spin-off of NBCUniversal and Sky. Comcast shareholders will receive shares in both new entities. The separation is expected to be completed in approximately one year, subject to customary conditions. Brian L. Roberts will remain involved in the leadership of both companies. Mike Cavanagh will serve as CEO of the new NBCUniversal, and Michael Angelakis will become CEO of the new Comcast. Comcast will focus on its broadband, wireless, and entertainment platforms. NBCUniversal will be a global media and entertainment company with theme parks, film and television studios, networks, Peacock, and Sky. Comcast expects to retain a stake of up to 19.9% in NBCUniversal for up to one year post-spin, with plans to monetize it over time. Both companies are intended to have strong investment-grade balance sheets.