Comcast is splitting its broadcast and broadband networks

Comcast will be left with a broadband and wireless business that reaches 65 million customers in the US.

The move is aimed at simplifying and making the business more attractive to investors, according to people close to the move. Some advertisers prefer a sustainable business while others want to acquire a “pure play” media group.

The split also makes future collaborations and deals easier for the two independent companies, the person said. Last year, Comcast was one of the buyers of WBD in a bidding war that was ultimately won by Paramount Skydance.

Comcast said it will establish a strong financial statement for each company, giving them all “the financial flexibility to meet their growth strategies.”

The company is expected to announce a deal to acquire ITV’s broadcasting business in the next few weeks for about $1.6 billion, according to several people familiar with the matter, which will help the UK broadcaster before it splits.

Comcast expects to retain up to a 19.9 percent stake in NBCUniversal for up to a year after completion, which it intends to sell in a tax-deductible manner over time.

Brian Roberts, Comcast’s chairman and chief executive, will continue to be “involved” in leading both companies after the new management team, Comcast said. Mike Cavanagh, Comcast’s chief executive, will become CEO of NBCUniversal, while former Comcast chief financial officer Michael Angelakis will lead Comcast.

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