The US group Comcast is restructuring its organisation and separating its media business – comprising NBCUniversal and Sky – from its existing core business. Within a year, this is set to become an independent, tax-exempt media company that will bring film, television and streaming activities together under one roof.

This move is of great significance to the film and entertainment industry: the new company includes, amongst others, Universal Pictures, Universal Television Studios, NBC, Telemundo Networks, the streaming platform Peacock, and the international pay-TV and streaming brand Sky. This creates one of the largest global media groups, with an extensive portfolio of studios, broadcasters, platforms and content.

The new media company is to be led by Mike Cavanagh as CEO. Meanwhile, Michael Angelakis, Comcast’s former chief financial officer, will take charge of the remaining Comcast group, which will focus more heavily on connectivity and broadband in future. Comcast’s chairman, Brian L. Roberts, will continue to be involved in the strategic management of both companies.

With this spin-off, Comcast is following a trend that is currently preoccupying many large media companies: the separation of infrastructure and entertainment businesses is intended to give individual divisions greater strategic flexibility and enable them to respond more quickly to changes in the market.

For Hollywood and the international film industry, this reorganisation could have implications, particularly in the streaming sector. By bringing together studios, content brands and platforms, the new company will gain a stronger position in the global competition for audiences, content and digital reach.

Comcast emphasises that both companies are set to enter this new phase from a position of strength. Whilst Comcast aims to expand its role as a provider of communications services, the new NBCUniversal-Sky group is set to grow internationally as an independent media and entertainment company.