NBCUniversal Spinoff Valued Near Disney Multiple; Former CFO Angelakis to Lead Cable Unit
CMCSA is trading near its 52-week low of $22.125 (11% above the low) on elevated volume (1.8× avg).
Summary
Comcast's planned NBCUniversal spinoff is anticipated to achieve a valuation closer to Disney's ~10x EBITDA multiple, a significant premium to Comcast's current ~5x. CEO Brian Roberts is set to retain over 33% voting control in the spun-off entity. This follows Comcast's June 29th announcement of a tax-free spinoff of its media and entertainment assets. Additionally, former CFO Michael Angelakis has been appointed to lead Comcast's remaining cable and broadband unit, bringing experienced leadership to the core business. The potential for a higher valuation for NBCU could unlock substantial shareholder value, while Angelakis's return is a positive for the cable segment.
At the time of this announcement, CMCSA was trading at $24.62 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $87.7B. The 52-week trading range was $22.13 to $34.34. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.