Comcast Corporation announced on November 20, 2024, its plan to spin off most of NBCUniversal’s cable television networks and select digital assets into a new, publicly traded company, initially referred to as “SpinCo.”
On Tuesday, the spinoff was officially named Versant, a name chosen to reflect the company’s adaptability, versatility, and potential for growth in a rapidly evolving media landscape. The tax-free spinoff, expected to be completed by the end of 2025, aims to create a focused, well-capitalized media business with a diverse portfolio, while allowing Comcast to prioritize its growth-oriented assets like streaming, broadband, and theme parks.
Cable Networks: Versant will include USA Network, CNBC, MSNBC, Oxygen, E!, SYFY, and Golf Channel, reaching approximately 70 million U.S. households. These networks offer a mix of news (MSNBC, CNBC), sports (Golf Channel, USA Network), and entertainment (E!, SYFY, Oxygen).
The spinoff’s assets generated approximately $7 billion in revenue over the 12 months ending September 30, 2024, highlighting their scale despite the decline of linear TV.
Name and Branding:The name Versant was announced by CEO Mark Lazarus in a memo on May 6, 2025, as a reflection of the company’s “adaptability and embrace of opportunity to shape a new, modern media company.” The term, derived from “versatile,” underscores the company’s goal to be nimble and innovative in a dynamic media environment.
Lazarus described Versant as “a blueprint for versatility, growth, and innovation,” signaling a strategy to leverage its diverse assets for both organic growth and potential acquisitions.
The name is primarily a holding company designation for “business-to-business purposes,” suggesting the individual network brands (e.g., MSNBC, CNBC) will retain their identities for consumer-facing operations.
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