Comcast Corp. has decided to spin off its media assets, NBCUniversal and Sky, undoing a strategy that began more than a decade ago. The move marks a reversal after years of trying to prove that a cable‑and‑media conglomerate could deliver shareholder value. Investors now face a new corporate structure.

The decision follows a decade‑long effort to merge cable distribution with content creation, a plan that struggled to justify higher valuations.