Versant
| Company type | Public (planned spin-off from Comcast) |
|---|---|
| Industry | Media |
| Founded | 2025 |
| Fate | Spin-off planned for 2026 from Comcast/NBCUniversal |
| Headquarters | New York City , United States |
Area served | United States |
Key people | Mark Lazarus (Chairman), Rebecca Kutler (President) |
| Products | Cable networks (USA Network, MS NOW, CNBC, Golf Channel, E!, Syfy, Oxygen), digital platforms (Fandango Media) |
| Owner | Comcast (until spin-off), Brian L. Roberts and family (33% voting interest) |
| Parent | Comcast (until spin-off) |
| Website | www |
Versant Media Group, Inc is a U.S.-based media corporation established in 2025 as a Comcast subsidiary, with plans for a shareholder spin-off slated for 2026. The company encompasses the majority of cable networks in the United States that were previously under NBCUniversal ownership—such as USA Network, MS NOW, CNBC, Golf Channel, E!, Syfy, and Oxygen—in addition to digital platforms including Fandango Media.
The creation of Versant was intended to allow NBCUniversal to concentrate on its principal business areas, while enabling these divested brands to adopt independent investment approaches within a "house of brands" framework. Post-spin-off, NBCUniversal will maintain advertising sales support and grant sublicenses for certain sports content to Versant to ensure operational continuity. Versant is also building its own sports division under the USA Sports banner. In October 2025, CNBC and MSNBC formally separated from NBC News, with MSNBC rebranding as "MS NOW," marking the commencement of Versant’s operations.
Versant’s temporary headquarters are situated at 229 West 43rd Street in Midtown Manhattan, while its technical and master control functions operate out of CNBC’s facility located in Englewood Cliffs, New Jersey.
History
On October 31, 2024, Comcast president Michael J. Cavanagh announced intentions to spin off NBCUniversal’s cable networks into a standalone company. This decision was driven by shifts in the video industry due to cord-cutting trends and aimed at enhancing shareholder value. By November 20, Comcast confirmed that most NBCUniversal cable channels and selected digital assets would be consolidated into a publicly traded firm headed by Mark Lazarus, then-chairman of NBCUniversal Cable Entertainment Group.
The new organization comprises cable channels like USA Network, MSNBC, CNBC, Golf Channel, and E!, along with digital holdings such as a 75% ownership stake in Fandango Media (which operates Fandango and Rotten Tomatoes), Golf Channel’s digital division GolfNow, and SportsEngine. This restructuring permits these assets to pursue independent investment paths separate from NBCUniversal’s core businesses in production (Universal Studios), broadcasting (NBC, Telemundo), streaming (Peacock), and theme parks. The channel Bravo remains part of NBCUniversal due to its strategic content role for Peacock, whereas Universal Kids was excluded from the spin-off and ceased operations in March 2025.
Initially referred to as "SpinCo," the company adopted the name Versant on May 6, 2025, with branding developed by Catchword. Lazarus characterized Versant as a holding company and "house of brands," emphasizing autonomy for each property regarding digital initiatives. He also mentioned potential diversification beyond media investments to enhance Versant’s portfolio, highlighting Golf Channel and GolfNow as examples.
Questions emerged concerning operational synergies following the spin-off, including access to NBC News and NBC Sports resources or rights to use the NBC brand. Under new leadership by president Rebecca Kutler, MSNBC expanded its Washington bureau staff to function independently. Versant leases Washington bureau space for CNBC and MSNBC within NBC’s facilities. For two years after the spin-off, NBCUniversal will continue managing advertising sales for Versant’s channels, with Versant participating in NBCUniversal’s 2026 upfront presentations. Rick Cordella, president of NBC Sports, confirmed ongoing fulfillment of commitments to Versant outlets. In August 2025, Comcast secured its first significant media rights agreement involving Versant by renewing USGA championship rights through 2032 on USA Network and Golf Channel.
By June 2025, Versant had established interim offices at 229 West 43rd Street in Times Square, which also accommodate MSNBC’s New York operations. On August 18, 2025, Versant commenced rebranding efforts to eliminate NBC trademarks: MSNBC was renamed "MS NOW" (My Source for News, Opinion, and the World), CNBC and Golf Channel refreshed their logos removing the NBC emblem, and a new "USA Sports" brand was launched encompassing sports content from Golf Channel and USA Network.
On September 18, 2025, Versant announced its Nasdaq listing under the ticker symbol VSNT. In October, CNBC and MSNBC officially separated from NBC News, signaling the operational launch of Versant as a Comcast subsidiary pending final spin-off approval. November saw AccuWeather partner with MS NOW and CNBC to provide weather coverage during prominent morning programs. That same month marked the formal introduction of USA Sports as Versant’s dedicated sports division overseeing programming across its channels, including securing a five-year rights agreement with the Pac-12 Conference.
Ownership
Versant's shares will be allocated to Comcast's shareholders and will be publicly traded independently, preserving the identical share structure as Comcast. Brian L. Roberts and his family will retain a 33% voting interest.
Assets
The assets under Versant encompass:
- CNBC
- E!
- Fandango Media (holding a 75% interest alongside Warner Bros. Discovery)
- MS NOW
- Oxygen
- Rotten Tomatoes
- SportsEngine
- Syfy
- USA Network
- USA Sports, which includes:
- Golf Channel
- GolfNow
- Revolution Golf
- Golf Channel