NBCUniversal: a solid deal past its prime
A standalone NBCUniversal could be worth more now
As a standalone enterprise, NBCUniversal should be worth more now. The business, which includes the studio behind “The Odyssey” and the new Universal Epic destination in Orlando is expected to generate nearly $4 billion in EBITDA this year, according to Visible Alpha. Using Walt Disney’s valuation multiple of 10 times suggests NBCUniversal is worth $40 billion.
Add the $9 billion Disney paid Comcast for its stake in streaming service Hulu. Versant Media, the cable networks enterprise spun off in January, is worth another $7 billion. Altogether, before factoring in European pay-TV business Sky, NBCUniversal is worth nearly $55 billion, almost twice the original figure.
Context from Comcast’s latest results and spinoff plans
Comcast said on July 23 that second-quarter revenue from its NBCUniversal media and theme park properties increased 23% from a year earlier to $10.7 billion, partly boosted by the FIFA World Cup broadcast. Its streaming service Peacock also reported its first profit, of $189 million.
