Comcast shares surge 20% in pre-market trading after announcing the spin-off of NBCUniversal and Sky businesses from its cable business
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Comcast Co-CEO Mike Cavanagh will take on the role of NBCUniversal CEO, while former Comcast CFO Michael Angelakis will become Comcast CEO. Over the past 12 months, the company’s stock price has sharply declined due to the significant challenges brought by the media industry’s shift from traditional TV bundles to streaming.
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