Comcast soars 20% after announcing it will spin off media and tech wings into separate public companies

Comcast announced plans to split into two separate publicly traded companies. The media and telecom giant will spin off NBCUniversal and its European broadcaster Sky through a tax-free separation, according to CNBC. The move aims to unlock value by splitting media assets from its core cable and broadband business. Investors responded positively, with Comcast shares surging twenty percent on the news.

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