Comcast announces plans to separate media and technology businesses, stock jumps over 21% in premarket
Comcast shares surged more than 21% in US premarket trading on Monday after the company announced plans to split itself into two separate publicly traded companies. At 7:40am ET, Comcast stock was up 21.75% at $28.21 in premarket trading. The stock had closed the previous session at $23.17.
Comcast to split into two companies
Comcast said it will separate its media and entertainment business from its broadband and connectivity business through a tax-free spinoff. The new media company will include NBCUniversal and Sky, along with Universal theme parks, movie and TV studios, NBC, and the Peacock streaming service.
