Shares of major U.S. wireless and broadband companies fell sharply on Monday after Comcast announced plans to spin off its NBCUniversal and Sky businesses, highlighting ongoing disruption in the media sector. AT&T and T-Mobile US each dropped around 5%, while Verizon Communications and Cogent Communications declined about 7%, and Lumen Technologies fell 3%. The sell-off reflects investor concerns that Comcast's move to separate legacy television assets from its core operations signals broader pressure on the traditional bundled broadband and pay-TV model as cord-cutting accelerates and streaming reshapes the industry.
Comcast CorpComcast's spin-off plan underscores industry disruption, pressuring its stock along with peers.
Cogent Communications Group Inc
Lumen Technologies Inc
AT&T Inc.
T-Mobile US Inc
Verizon Communications Inc