Cavanagh Becomes Co-CEO, Comcast Spins Off Cable Networks
Update: 2025-12-24
Description
Michael Cavanagh, a seasoned finance executive, has been appointed co-CEO of Comcast, effective January 2nd. His contract runs until January 1st, 2029, with an annual base salary of $2.75 million and a performance-based bonus target of 300% of his base. Cavanagh, 59, will share the top job with Brian Roberts, 66, signaling a clear succession plan. Comcast is also spinning off several cable networks into a new company, Versant, to focus on broadcast and streaming businesses. Cavanagh, who joined Comcast in 2015, has risen through the ranks and is now poised to lead the company through media shakeups.
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