CMCSA · 8-K · 20261022PR066783

NBCUniversal and Sky Separation

COMCAST CORP · 2026-10-22 · Importance 40 · Surprise 42

Comcast reported that progress continued on separating NBCUniversal and Sky into two independent companies. The third-quarter release included $22 million of transaction costs and $4 million of transaction-related costs associated with the proposed NBCUniversal Spin-off. Nine-month 2026 transaction costs included $51 million related to the completed Versant Separation and $22 million related to the proposed NBCUniversal Spin-off. The Versant Separation was completed on January 2, 2026, and the sale of Sky operations in Germany was completed on May 31, 2026.

Key facts

• Comcast generated $4.2 billion in free cash flow and stated progress on the separation of NBCUniversal and Sky which remains on track to create two independent companies source
• The company completed the Versant separation on January 2, 2026 and the sale of Sky operations in Germany on May 31, 2026; pro forma results reflect those as if occurred on January 1, 2024 source
• Third quarter and year-to-date 2026 include $22 million of transaction costs related to the proposed NBCUniversal Spin-off (and nine months include $51 million of transaction costs related to the Versant Separation) source
• Comcast completed sale of Sky operations in Germany on May 31, 2026; year-to-date 2026 includes a $75 million income tax benefit related to assets of Sky operations in Germany sold on May 31, 2026 source