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Read the memo Comcast sent employees about its plans to spin off its media business
Comcast announced plans to split its media and tech businesses into separate publicly traded companies, citing strong business prospects and leadership. The company shared a memo with employees outlining the new structure, with Mike Cavanagh leading NBCUniversal and Sky, and Michael Angelakis set to become CEO of the new company. Shares rose 25% in premarket trading following the announcement.
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- Comcast stock surges after it said it's spinning off its media businesses
- Comcast soars 23% after announcing it will spin off media and tech wings into separate public companies
- Comcast is spinning off NBCUniversal and Sky as its stock soars
- Comcast plans to split into two public companies by spinning off NBCUniversal and Sky