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Comcast shares jumped 20% after the cable and media conglomerate said it would break itself into two separately listed public companies through a tax-free spinoff of NBCUniversal and Sky.
The announcement marks one of the most significant restructurings in American media in years, with Comcast betting that investors will value its constituent parts more highly apart than together.
The Structure of the Split Under the plan, Comcast will separate NBCUniversal — its film, television and theme-park business — and Sky, the European pay-television and streaming operation, from its core cable infrastructure.
Each entity would trade independently following the spinoff.
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