Versant

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For other uses, see Versant (disambiguation).
Versant Media Group Inc.
Company typePublic
IndustryMedia
PredecessorsNBCUniversal
Headquarters
New York City, New York
,
United States
Area served
Worldwide
Services
OwnerBrian L. Roberts (33% voting power)
SubsidiariesFandango Media (75%)
SportsEngine
Websiteversantmedia.com

Versant Media Group Inc. is an upcoming American media company to be formed by Comcast through the spin-off of most of NBCUniversal's U.S. cable networks (including USA Network, MS NOW (formerly MSNBC), Syfy, CNBC, and Golf Channel among others) and related digital properties.

Versant's headquarters will initially be based at 229 West 43rd Street in Midtown Manhattan, with technical operations and master control for its networks being housed at CNBC's headquarters in Englewood Cliffs, New Jersey.[1]

History

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On October 31, 2024, Comcast president Michael J. Cavanagh disclosed that the company was exploring a plan to spin-off NBCUniversal's cable networks as a new company. He explained that "like many of our peers in media, we're experiencing the effects of the transition of our video businesses and have been studying the best path forward for these assets", and that such a spin-off would "position them to take advantage of opportunities in the media landscape and create value for our shareholders."[2] Just under a month later, on November 20, Comcast officially announced that it would spin off most of NBCUniversal's cable networks and selected digital properties into a new publicly traded company led by Mark Lazarus, then-chairman of the NBCUniversal Cable Entertainment Group.[3]

The company will consist of cable networks such as USA Network, MSNBC, CNBC, Golf Channel, and E! among others, as well as digital properties such as a 75% stake in Fandango Media (owner of the titular online movie ticket retailer and digital movie store and film review aggregator Rotten Tomatoes), Golf Channel's digital operations (such as GolfNow), and SportsEngine (a technology platform for youth sports organizations, currently part of NBC Sports Digital). The aim of the spin-off is to separate these linear television networks and digital properties from NBCUniversal's flagship production (Universal Studios), broadcasting (NBC and Telemundo), streaming (Peacock), and theme park (Universal Destinations & Experiences) businesses, while providing them with the ability to make their own further investments and acquisitions.[3][4] Bravo will remain under NBCUniversal ownership, due to the network being a major provider of content to Peacock.[3] Universal Kids was also excluded and was eventually closed on March 6, 2025.[5]

Initially referred to under the interim name "SpinCo," on May 6, 2025, it was announced that the company would be known as Versant.[6] Lazarus explained that Versant will be treated as a holding company and "house of brands"; a larger focus will be placed upon its individual properties rather than Versant being a public-facing brand, and decisions on digital operations (such as streaming) will be left to each network.[6][7] He did not rule out investments into non-media properties that could complement and be cross-promoted with Versant's networks, citing existing examples such as Golf Channel and GolfNow.[7][6]

Questions were raised over how the spin-off will impact the synergies between Versant and the legacy divisions being retained by NBCUniversal, such as whether they would still be able to leverage resources from the NBC News and NBC Sports divisions or use the NBC name.[3][4][8][9] Under its new president, Rebecca Kutler, MSNBC began expanding its newsgathering resources and Washington staff so it could operate with autonomy from NBC News.[10][11][12] Versant will lease space for CNBC and MSNBC's Washington, D.C., bureaus at NBC's existing facility at 400 North Capitol.[1] NBCUniversal will also provide advertising sales for Versant channels for two years after the completion of the spin-off.[13]

NBC Sports president Rick Cordella stated that the division would "fulfill every obligation" it has with networks that are part of the spin-off, suggesting they will still carry programming covered under current contracts (such as the Olympic Games and PGA Tour).[14][15][16] On the other hand, Lazarus stated that Versant was considering pursuing its own sports rights, with a focus on properties that "drive distribution, diversify ad sales and have a value".[17] In August 2025, NBCUniversal and Versant renewed their rights to United States Golf Association (USGA) championships from 2027 through 2032, with USA Network and Golf Channel continuing to serve as the cable television home of the events post-split. It is the first major media rights deal negotiated by Comcast to incorporate Versant.[18][19][20] In September 2025, the WNBA announced an 11-year media rights agreement with Versant, under which USA Network would air at least 50 regular season games per season, as well as playoff games and WNBA Finals coverage in selected years; the deal effectively subsumes rights to the league that were originally awarded to NBCUniversal under its new NBA contract.[21][22]

In June 2025, it was reported that Versant had leased space at 229 West 43rd Street in Times Square to serve as its interim headquarters, as well as an interim location for MSNBC's New York operations.[23][24] On August 18, 2025, Versant announced that multiple rebrandings would occur to remove the overt use of NBC trademarks from its properties; MSNBC will be rebranded as "MS NOW" (a backronym of "My Source for News, Opinion, and the World"), CNBC and Golf Channel will introduce new logos without the NBC logo (CNBC was originally branded as the "Consumer News and Business Channel"), and a "USA Sports" brand will be reintroduced to encompass Golf Channel and sports broadcasts on USA Network.[25]

On September 18, 2025, it was announced that the company will be listed on the Nasdaq under the ticker symbol VSNT, which was once used by Versant Corporation, a similarly named but unrelated software company.[26][27] In October 2025, both CNBC and MSNBC began the process of formally separating themselves from NBC News.[28][29] In November 2025, AccuWeather announced an agreement to provide weather data and coverage for MS NOW and CNBC, including weather forecasts during their respective morning shows, Morning Joe and Squawk Box, and collaborating on coverage of weather events.[30][31]

Ownership

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Shares in Versant will be distributed to Comcast shareholders and trade independently thereafter; it will have the same share structure as Comcast, with Brian L. Roberts and his family holding a 33% voting share.[3]

Assets

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Versant will include the following assets:

See also

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References

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  1. ^ a b Goldsmith, Jill (February 28, 2025). "Comcast's Cable 'SpinCo' Is Scouting Space For New Manhattan Headquarters, "Closing In" On Name As Separation Takes Shape". Deadline. Retrieved March 4, 2025.
  2. ^ Hayes, Dade (October 31, 2024). "Comcast Looking At Forming A New Stand-Alone Company For Its Cable Networks, President Mike Cavanagh Says". Deadline. Retrieved November 20, 2024.
  3. ^ a b c d e "Comcast to spin off MSNBC, CNBC and other cable channels". Los Angeles Times. November 20, 2024. Retrieved November 25, 2024.
  4. ^ a b Spangler, Todd (November 20, 2024). "Comcast Announces Spin-Off of Most Cable Networks Into New Company to 'Set These Businesses Up for Future Growth,' CEO Brian Roberts Says". Variety. Retrieved November 22, 2024.
  5. ^ "NBCUniversal is shutting down Universal Kids". Kidscreen. January 13, 2025.
  6. ^ a b c Weprin, Alex (May 6, 2025). "Comcast's Cable TV Spinoff Now Has a Name: Versant". The Hollywood Reporter. Retrieved May 7, 2025.
  7. ^ a b Sherman, Alex (May 6, 2025). "Comcast's cable spinoff to be named Versant, picked to emphasize corporate versatility". CNBC. Retrieved May 7, 2025.
  8. ^ "NBC owners to spin off Golf Channel. What's next for the network?". Golf. November 21, 2024. Retrieved November 25, 2024.
  9. ^ Weprin, Alex (November 21, 2024). "All Bets Are Off for MSNBC, CNBC and Bravo: Behind the TV Spinoff That Will Shake Up Cable". The Hollywood Reporter. Retrieved November 25, 2024.
  10. ^ Johnson, Ted (February 24, 2025). "MSNBC Confirms Schedule Overhaul With Jen Psaki And 'The Weekend' Anchors Getting Primetime Slots; Joy Reid's Show Canceled". Deadline. Retrieved February 25, 2025.
  11. ^ Steinberg, Brian (February 23, 2025). "Joy Reid and Alex Wagner Axed From MSNBC Lineup in Major Network Shakeup". Variety. Retrieved February 23, 2025.
  12. ^ Johnson, Ted (August 6, 2025). "NBC News Names Deputy D.C. Bureau Chief; MSNBC Makes Additional Washington Hires". Deadline. Retrieved August 13, 2025.
  13. ^ Hayes, Dade (May 7, 2025). "NBCUniversal To Handle Sales For Comcast's Cable Spinoff Versant Under Two-Year Agreement". Deadline. Retrieved May 7, 2025.
  14. ^ Lerner, Drew (November 20, 2024). "NBC Sports president on spinoff: 'We're going to fulfill every obligation'". Awful Announcing. Retrieved December 20, 2024.
  15. ^ Awful Announcing Staff. "NBC reveals NBA schedule highlights, new WNBA Finals agreement". awfulannouncing.com. Awful Announcing. Retrieved July 23, 2024.
  16. ^ Brendon Kleen. "Cable spinoffs Versant and Discovery Global are punishing sports fans most of all". awfulannouncing.com. Awful Announcing. Retrieved September 6, 2025.
  17. ^ Sherman, Alex (May 8, 2025). "CNBC Sport: Versant CEO Mark Lazarus outlines his sports strategy". CNBC. Retrieved May 18, 2025.
  18. ^ "USGA strikes media rights deal with NBC and new company Versant through 2032". GolfDigest.com. Retrieved August 13, 2025.
  19. ^ "5 things to know from the USGA's new 6-year TV deal with NBC". Golf. August 12, 2025. Retrieved August 13, 2025.
  20. ^ Carpenter, Josh (August 13, 2025). "USGA renews media deal with NBCU through 2032". Sports Business Journal. Retrieved August 13, 2025.
  21. ^ Porter, Rick (September 30, 2025). "WNBA, Versant Sign 11-Year Rights Deal Ahead of NBCU Spinoff". The Hollywood Reporter. Retrieved October 3, 2025.
  22. ^ Golden, Jessica (September 30, 2025). "Versant adds WNBA media deal to its growing sports portfolio". CNBC. Retrieved October 3, 2025.
  23. ^ Mwachiro, Mark (2025-06-03). "MSNBC Identifies Its Temporary Office Space Ahead of Versant Spin-Off". Adweek. Retrieved 2025-07-31.
  24. ^ Manfredi, Lucas (2025-06-02). "Comcast's Versant Finds Temporary Location for New York HQ". TheWrap. Retrieved 2025-07-31.
  25. ^ Johnson, Ted (August 18, 2025). "MSNBC To Change Name To MS NOW As Part Of Split With Comcast". Deadline. Retrieved August 18, 2025.
  26. ^ "Comcast spinoff Versant Media to trade on NASDAQ under ticker VSNT". CNBC. September 18, 2025.
  27. ^ Versant Object Technology (March 28, 1997). "Annual Report for the fiscal year ending December 31, 1996". Form 10-KSB. US Securities and Exchange Commission. Retrieved December 4, 2013.
  28. ^ Steinberg, Brian (September 17, 2025). "The Big MSNBC-NBC News Split Starts Oct. 6". Variety. Retrieved September 26, 2025.
  29. ^ "MSNBC Identifies Its Temporary Office Space Ahead of Versant Spin-Off". Adweek. June 3, 2025. Retrieved September 26, 2025.
  30. ^ Weprin, Alex (2025-11-10). "MS NOW Gets Into the Weather Business, Inks Deal With AccuWeather (Exclusive)". The Hollywood Reporter. Retrieved 2025-11-11.
  31. ^ Winslow, George (2025-11-10). "MS NOW Inks Deal with AccuWeather for Weather Coverage". TV Tech. Retrieved 2025-11-11.
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