Spin-off - COMCAST CORP
Form Type: DEF 14A
Filing Date: 2025-04-25
Corporate Action: Spin-off
Type: New
Accession Number: 000130817925000504
Filing Summary: Comcast Corporation reported strong financial performance for 2024, with a revenue growth of 1.8% to $123.7 billion and a return of $13.5 billion to shareholders through dividends and share repurchases. The company announced plans for a tax-free spin-off of a portfolio of cable television networks and complementary digital assets, expected by the end of 2025. This strategic move aims to enhance shareholder value and allow for focused growth in both entities. In addition, the proxy statement outlines the election of directors, appointment of independent auditors, and proposals regarding employee stock purchase plans and executive compensation, with a commitment to governance and corporate responsibility.
Additional details:
Date Of Annual Meeting: 2025-06-18
Record Date: 2025-04-08
Dividend Increase: 0.08
New Dividend Amount: 1.32
Total Return To Shareholders: 13.5 billion
Form Type: 8-K
Filing Date: 2025-03-19
Corporate Action: Spin-off
Type: New
Accession Number: 000095010325003639
Filing Summary: On March 19, 2025, Comcast Corporation announced plans for a spin-off of a strong portfolio of cable channels and complementary digital assets, referred to as 'SpinCo'. David Novak, currently a director of Comcast, will transition to become the non-executive Chairman of the Board of Directors of SpinCo once the spin-off is completed, which is anticipated to occur by the end of 2025. Upon this transition, Mr. Novak will resign from his position on Comcast’s Board of Directors.
Additional details:
Director Name: David Novak
New Position: Non-executive Chairman of the Board of Directors of SpinCo
Expected Completion Date: end of 2025
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