Comcast Announces Leadership Transition Ahead of Planned Spin-Off
March 19, 2025 – Comcast Corporation (Nasdaq: CMCSA) has announced that David Novak, a current director on Comcast’s Board of Directors, will assume the role of non-executive Chairman of the Board for SpinCo, the company’s planned spin-off entity.

Key Highlights:
SpinCo Overview:

Will include a strong portfolio of cable channels and complementary digital assets
Expected to complete by the end of 2025
Leadership Transition:

David Novak will vacate his position on Comcast’s Board once the spin-off is finalized
He will assume the role of non-executive Chairman of SpinCo
This move aligns with Comcast’s strategy to enhance shareholder value and streamline its core business.

Comcast has appointed David Novak as Chairman of the Board for "SpinCo," its planned spin-off of media brands including USA Network, CNBC, MSNBC, E!, SYFY, and Golf Channel, along with digital assets like Fandango and Rotten Tomatoes. Novak, former CEO of YUM! Brands, brings extensive leadership experience in brand growth and corporate strategy.

SpinCo, expected to generate $7 billion annually, aims to be a leading independent media company with a focus on news, sports, and entertainment. Novak will formally assume his role upon the spin-off’s completion in 2025.

**Comcast Announces Dividend Increase and Expanded Share Repurchase Program**

Comcast Corporation (NASDAQ: CMCSA) has announced an increase in its annual dividend by **$0.08 to $1.32 per share for 2025**, reflecting a **6.5% year-over-year increase**. The company’s **quarterly dividend is now $0.33 per share**, payable on **April 23, 2025**, to shareholders of record as of **April 2, 2025**.

Additionally, Comcast’s **Board of Directors has approved a new $15 billion share repurchase authorization**, effective **January 31, 2025**, with no expiration date.

These moves reinforce Comcast’s commitment to returning capital to shareholders while maintaining strong financial flexibility. The company continues to expand its broadband, wireless, and media businesses through **Xfinity, Comcast Business, Sky, NBCUniversal, and Universal Destinations & Experiences**.

For further updates, visit [www.comcastcorporation.com](https://www.comcastcorporation.com).

Comcast Corporation reported record financial performance for 2024, achieving its highest-ever revenue, EBITDA, and earnings per share. Annual revenue increased by 1.8% to $123.73 billion, while net income attributable to Comcast grew by 5.2% to $16.19 billion. Adjusted EBITDA rose 1.2% to $38.07 billion, and adjusted earnings per share increased 9.0% to $4.33. The company generated $12.5 billion in free cash flow.

In the fourth quarter, revenue grew by 2.1% to $31.92 billion, and net income surged 46.6% due to a $1.9 billion tax benefit from an internal corporate reorganization. Adjusted net income increased 8.3%, while adjusted EBITDA rose 9.9%. Comcast returned $3.2 billion to shareholders in the quarter through dividends and share repurchases, totaling $13.5 billion for the year.

The Connectivity & Platforms segment saw revenue remain flat, with growth in domestic broadband and mobile offset by a decline in video. Adjusted EBITDA increased 3.5% as the company expanded margins. Business Services Connectivity revenue rose 3.7%, driven by enterprise solutions and higher average rates for small business customers.

The Content & Experiences segment saw a 5% revenue increase, led by NBCUniversal’s Peacock, which reported 46% revenue growth to $4.9 billion. Studios delivered an 85% jump in quarterly adjusted EBITDA and ranked second in worldwide box office revenue. Theme Parks revenue remained steady, but adjusted EBITDA declined slightly due to pre-opening costs for Universal Epic Universe.

Comcast announced a 6.5% dividend increase for 2025, marking its 17th consecutive annual increase, and expanded its share repurchase authorization to $15 billion. The company expects continued growth in connectivity revenue, strong performance from Peacock, and a boost from upcoming major events such as the NBA and WNBA returning to NBC.