Comcast to separate into two independent, publicly traded companies

(NBC, KYMA) - NBC's parent company, Comcast Corporation, announced it will be separating into two independent, publicly traded companies.

Comcast will spin off NBCUniversal and Sky, including NBC News as well as its Universal theme parks and Universal Studios.

The spin-off is expected to be completed in the next year or so, pending all board and regulatory approvals and

Current Comcast co-CEO Mike Cavanagh will lead the new NBCUniversal Media and Entertainment Company.

Earlier this year, Comcast spun-off its portfolio of cable TV networks and digital assets, including CNBC and MS NOW, to Versant Media, according to to CNBC.

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