Comcast isn’t done spinning, announcing it will spin off NBCUniversal, which includes its streaming, television, film and theme park assets. The tax-free spinoff, which also includes Sky, is expected to be complete in about a year.

The news further fuels speculation that Comcast might combine with Charter or another TMT player. The company said it lets both businesses pursue their own strategic priorities.

Mike Cavanagh will be the CEO of NBCUniversal, and Comcast’s former CFO Michael Angelakis will return to serve as CEO of Comcast. Brian Roberts will “be actively involved in the leadership of Comcast and NBCUniversal, working in partnership with the CEOs of both companies,” according to the announcement.

“This is a very exciting day for our company. The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business. I very much look forward to helping guide our collective growth for this next chapter,” Robert said in a statement.

Upon completion of the transaction, Comcast shareholders will own shares in both Comcast and NBCUniversal. Comcast expects to retain a stake of up to 19.9% ownership position in NBCUniversal for up to one year after the completion of the spin. More details in tonight’s issue of CFX Daily.

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