Why Comcast Stock Rallied Today
Yahoo Finance ·
Shares of Comcast ( CMCSA +4.51% ) rose on Monday after the entertainment conglomerate announced plans to spin off its NBCUniversal media assets. Comcast intends to split into two separate companies. One, which will be named NBCUniversal, will house its theme parks, film and television studios, Sky media business, NBC and cable networks, and the Peacock streaming service. "Together, these businesses will be powered by a portfolio of world-class intellectual property, a deep content library, extraordinary content creation capabilities, and exceptional strength across sports, news, and entertainment," the company said in a press release.
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