Comcast has completed the spin-off of most of its cable television networks into a new, independent publicly traded company called Versant Media Group, effective January 2, 2026, with shares beginning regular trading on the Nasdaq under the ticker symbol VSNT on Monday.
The separation, first announced in late 2024 and approved by Comcast's board in December 2025, creates a standalone entity focused on cable and news networks amid declining traditional TV viewership and advertising. Mark Lazarus, former chairman of NBCUniversal Media Group, serves as Versant's CEO, with NBCUniversal CFO Anand Kini taking on roles as CFO and COO.
Versant's portfolio includes prominent channels such as:
- CNBC
- MS NOW (the rebranded former MSNBC)
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- USA Network
- SYFY
- Golf Channel
- Oxygen
- E!along with digital assets like Fandango, Rotten Tomatoes, GolfNow, and SportsEngine.
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Comcast shareholders received one share of Versant Class A or Class B common stock for every 25 shares of Comcast stock held as of December 16, 2025, in a tax-free distribution.
On its trading debut Monday, Versant shares opened at $45.17 but fell more than 10-14% amid investor concerns over the future of legacy cable businesses in the streaming era, while Comcast shares rose slightly.
CEO Mark Lazarus called the milestone "a defining moment," emphasizing Versant's scale, strategy, and leadership to grow and evolve beyond traditional cable. The move allows Comcast to concentrate on higher-growth areas like broadband, theme parks, the NBC broadcast network, Telemundo, Peacock streaming, and studios, while Versant operates as a pure-play media company reaching around 70 million U.S. households.
This spin-off reflects broader industry trends, with companies restructuring to separate declining linear TV assets from streaming and content production.