Comcast Expects Q4 Charge Above $1 Billion, Targets Mid-2027 Spin-Off

Comcast expects a fourth-quarter 2026 charge exceeding $1 billion, with most of the cost tied to transformation efforts, as it prepares to separate NBCUniversal and Sky into two public companies.

Chief Financial Officer Jason Armstrong gave the estimate on the Oct. 22 earnings call. “I would quantify that at over $1 billion,” he said. Armstrong gave no exact total or detailed cost breakdown.

Co-CEO Mike Cavanagh said, “We are on track to complete the transaction by the middle of next year.” Comcast is putting infrastructure in place for both businesses to operate independently.

The plan, announced June 29, would create two independent publicly traded companies, with Comcast shareholders receiving shares in both. The earnings call also covered third-quarter results, including higher media revenue amid continued broadband subscriber losses. Completion remains targeted for mid-2027.