Comcast Names Michael Cavanagh Co-CEO

Comcast Corp. (CMCSA) on Monday named Michael J. Cavanagh as Co-Chief Executive Officer, effective January 2026. 

Cavanagh will share the role with current Chairman and CEO Brian L. Roberts, marking a joint leadership at one of the country’s largest media and technology companies.

Comcast stock inched 0.5% higher in Monday’s premarket. On Stocktwits, retail sentiment around the stock shifted to the ‘neutral’ territory from ‘bullish’ the previous day. Message volume shifted to ‘normal’ from ‘high’ levels in 24 hours. 

The company also confirmed that Cavanagh will join the Board of Directors upon assuming his new role. Cavanagh has been with Comcast since 2015, initially serving as Chief Financial Officer before being promoted to President. 

The leadership update comes at a time when the company reportedly plans to cut jobs at its largest unit, connectivity and platforms. On Monday, Bank of America cut its price target on Comcast from $38 to $36 but maintained a ‘Neutral’ rating on the stock, according to TheFly. The firm now sees a slightly improved broadband outlook for the third quarter, predicting a net loss of 120,000 subscribers, down from the previously forecasted 130,000. 

However, it expects weaker performance in the Theme Park segment. According to Fiscal AI data, analysts anticipate Comcast’s Q3 revenue to be $30.76 billion and an earnings per share (EPS) of $ 1.10.

Comcast stock has lost over 15% in 2025 and over 24% in the last 12 months. 

Also See: Paramount+ To Stream Zuffa Boxing Exclusively Starting 2026

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