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Versant

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For other uses, see Versant (disambiguation).

Versant Media Group, Inc.
Company typePublic
IndustryMedia
PredecessorsNBCUniversal (select business segments)
FoundedJanuary 2, 2026; 2 months ago (2026-01-02)
Headquarters
New York City, New York
,
United States
Area served
Worldwide
Key people
Services
OwnerBrian L. Roberts (1% equity interest, 33% voting power)
Subsidiaries
Websiteversantmedia.com

Versant Media Group, Inc., doing business as Versant (/ˈvɜːrsənt/[1]), is an American multinational mass media company. Formed on January 2, 2026, as a spin-off of Comcast, Versant is headquartered at 229 West 43rd Street in Midtown Manhattan in New York City,[2][3] while technical operations and master control for its networks are housed at CNBC's world headquarters in Englewood Cliffs, New Jersey.[4]

The company consists primarily of domestic cable networks previously owned by NBCUniversal, including USA Network, MS NOW (formerly MSNBC), CNBC, Golf Channel, E!, Syfy, and Oxygen, and related digital properties (such as GolfNow, Fandango Media, and Rotten Tomatoes). The spin-off was intended to allow NBCUniversal to focus on its core film, television, streaming, and themed entertainment businesses, while allowing the divested properties to make their own further investments as a "house of brands".

NBCUniversal continues to provide advertising sales services for a period after the spin-off and sublicensed certain sports properties to Versant for continuity. Versant has established its own sports division under the USA Sports branding, while CNBC and MS NOW are editorially separate from NBC News. Ahead of the spin-off, Versant also acquired the digital multicast television network operator Free TV Networks.

History

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Announcement and lead-up

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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. 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."[5] Less than a month later - on November 20 - Comcast officially announced it would spin off most of NBCUniversal's cable networks and selected digital properties into a new publicly traded company controlled by its shareholders, to be led by Mark Lazarus, then-chairman of the NBCUniversal Cable Entertainment Group.[6]

This new company would 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, then part of NBC Sports Digital). The spin-off aimed to separate these linear television networks and digital properties from NBCUniversal's flagship content production, distribution, and financing (Universal Studios); broadcasting (NBC and Telemundo); streaming (Peacock); and themed entertainment (Universal Destinations & Experiences) businesses, while providing them with the ability to make their own further investments and acquisitions.[6][7] Bravo will remain under NBCUniversal ownership, due to the network being a major provider of content to Peacock.[6] Universal Kids was also excluded, and it was later announced on January 13, 2025, that it would close on March 6, 2025.[8]

Initially referred to under the interim name "SpinCo," on May 6, 2025, it was announced that the company would be called Versant, a name developed by Catchword.[9] 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.[9][10] 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.[10][9]

Questions were raised over how the spin-off would 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.[6][7][11][12] Under its new president, Rebecca Kutler, MSNBC began expanding its newsgathering resources and Washington staff so it could operate with autonomy from NBC News.[13][14][15] Versant will lease space for CNBC and MSNBC's Washington, D.C., bureaus at NBC's existing facility at 400 North Capitol.[4] NBCUniversal will also provide advertising sales for Versant channels for two years after the completion of the spin-off,[16] and the Versant channels will participate in NBCUniversal's 2026 upfronts.[17]

NBC Sports president Rick Cordella stated that the division would "fulfill every obligation" it currently has with the Versant channels;[18][19][20] 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.[21][22] Despite its continued sublicensing of NBC Sports programming, it was later announced that Versant would also establish a separate USA Sports division to encompass Golf Channel and sports broadcasts on USA Network.[23]

On August 18, 2025, Versant announced that it would rebrand several of its networks to remove the NBC logo or "NBC" from their names; MSNBC was rebranded as "MS NOW" (a backronym of "My Source [for] News, Opinion, [and the] World"), CNBC adopted a new wordmark logo with references to its original logo (it was able to keep "NBC" in its name due to the name originally being an initialism for "Consumer News and Business Channel", although Versant was still required to obtain a trademark license from NBCUniversal),[24] and Golf Channel would introduce a revised version of its original "swinging G" emblem.[25]

In June 2025, Versant leased space at 229 West 43rd Street in Times Square to serve as its headquarters.[26] While the building was originally intended to be an interim location, it was later announced in December 2025 that Versant had leased additional floors and would use it as its permanent headquarters. Lazarus cited the building's central location and "operational effectiveness" as factors.[3]

On September 18, 2025, it was announced that the company would be listed on the Nasdaq under the ticker symbol VSNT, which was once used by Versant Corporation, a similarly named but unrelated software company.[27][28] On October 6, 2025, both CNBC and MSNBC began the process of formally separating themselves from NBC News.[29][30]

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.[31][32] The same month, Versant officially launched USA Sports to cover programming across its channels, including USA Network and Golf Channel.[33][34] As not all of NBC Sports properties would be shared with USA Sports or vice versa, NBCUniversal would relaunch NBCSN in order to maintain a linear television outlet for NBC Sports (with the channel primarily simulcasting Peacock's sports properties).[35]

Beginning of operations (2026–present)

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On December 3, 2025, the divestment was approved by Comcast's board of directors; Comcast began to distribute Versant shares to its shareholders beginning from mid-December, and the distribution was completed on January 2, 2026. The new company officially began trading on the Nasdaq on January 5, 2026.[2] During its first investors day the following day, Versant announced that it would acquire digital multicast television network and FAST operator Free TV Networks (in a transaction that was completed on January 14, 2026),[36] as well as Indy Cinema Group—a provider of cloud computing services for the cinema industry (via Fandango Media). Free TV Networks founder Jonathan Katz joined the company as an executive to continue overseeing the networks.[37][38]

Later that month, Versant renewed Golf Channel's content partnership with golfer Rory McIlroy (which primarily focuses on its GolfPass streaming service), and announced a new joint venture with the golfer known as Firethorn Productions, which will "produce original content and experiences that celebrate Rory's world and the modern golf lifestyle".[39]

On January 8, 2026, Versant announced its first content library sale, placing streaming rights to E!'s Keeping Up with the Kardashians with Hulu. While Versant retained on-air rights to 280 original episodes and a variety of specials and spinoffs, the deal unified streaming access to the first 14 years of Kardashian reality shows with the more recent The Kardashians series that has streamed on Hulu since 2022.[40]

Ownership

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Shares in Versant were distributed to Comcast shareholders and began trading independently thereafter, with each shareholder receiving one share for every 25 shares of class A or class B common stock they hold in Comcast as of the end of the business day on December 16, 2025.[41] As with Comcast, Brian L. Roberts and his family hold a 33% voting share.[6]

Assets

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Versant houses the following assets:

References

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  1. ^ "Can MS Survive Without NBC? Inside CEO Mark Lazarus' Efforts To Save Cable's Great Brands". Mixed Signals. Semafor Media. September 26, 2025. Retrieved December 5, 2025.
  2. ^ a b "Comcast's Board Approves Separation of Versant Media Group, Inc". Comcast. Retrieved December 8, 2025.
  3. ^ a b Patton, Tess (December 22, 2025). "Versant Designates New York Office as Permanent Headquarters". TheWrap. Retrieved December 23, 2025.
  4. ^ 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.
  5. ^ 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.
  6. ^ 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.
  7. ^ 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.
  8. ^ "NBCUniversal is shutting down Universal Kids". Kidscreen. January 13, 2025.
  9. ^ 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.
  10. ^ 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.
  11. ^ "NBC owners to spin off Golf Channel. What's next for the network?". Golf Magazine. November 21, 2024. Retrieved November 25, 2024.
  12. ^ 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.
  13. ^ 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.
  14. ^ Steinberg, Brian (February 23, 2025). "Joy Reid and Alex Wagner Axed From MSNBC Lineup in Major Network Shakeup". Variety. Retrieved February 23, 2025.
  15. ^ Johnson, Ted (August 6, 2025). "NBC News Names Deputy D.C. Bureau Chief; MSNBC Makes Additional Washington Hires". Deadline. Retrieved August 13, 2025.
  16. ^ Hayes, Dade (May 7, 2025). "NBCUniversal To Handle Sales For Comcast's Cable Spinoff Versant Under Two-Year Agreement". Deadline. Retrieved May 7, 2025.
  17. ^ Spangler, Todd (October 8, 2025). "NBCUniversal Sets Date for 2026 Upfront, Which Will Include Networks Spinning Off Into Versant". Variety. Retrieved November 18, 2025.
  18. ^ Lerner, Drew (November 20, 2024). "NBC Sports president on spinoff: 'We're going to fulfill every obligation'". Awful Announcing. Retrieved December 20, 2024.
  19. ^ Awful Announcing Staff. "NBC reveals NBA schedule highlights, new WNBA Finals agreement". awfulannouncing.com. Awful Announcing. Retrieved July 23, 2024.
  20. ^ Brendon Kleen. "Cable spinoffs Versant and Discovery Global are punishing sports fans most of all". awfulannouncing.com. Awful Announcing. Retrieved September 6, 2025.
  21. ^ "USGA strikes media rights deal with NBC and new company Versant through 2032". Golf Digest. Retrieved August 13, 2025.
  22. ^ "5 things to know from the USGA's new 6-year TV deal with NBC". Golf Magazine. August 12, 2025. Retrieved August 13, 2025.
  23. ^ Johnson, Ted (August 18, 2025). "MSNBC To Change Name To MS NOW As Part Of Split With Comcast". Deadline. Retrieved August 18, 2025.
  24. ^ "Versant Reveals New MS NOW DTC Platform, New CNBC Logo". Adweek. December 5, 2025. Retrieved December 6, 2025.
  25. ^ "Golf Channel unveils updated logo design — and it will look familiar to many". NewscastStudio. Retrieved December 20, 2025.
  26. ^ Manfredi, Lucas (June 2, 2025). "Comcast's Versant Finds Temporary Location for New York HQ". TheWrap. Retrieved July 31, 2025.
  27. ^ "Comcast spinoff Versant Media to trade on NASDAQ under ticker VSNT". CNBC. September 18, 2025.
  28. ^ 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.
  29. ^ Steinberg, Brian (September 17, 2025). "The Big MSNBC-NBC News Split Starts Oct. 6". Variety. Retrieved September 26, 2025.
  30. ^ "MSNBC Identifies Its Temporary Office Space Ahead of Versant Spin-Off". Adweek. June 3, 2025. Retrieved September 26, 2025.
  31. ^ Weprin, Alex (November 10, 2025). "MS NOW Gets Into the Weather Business, Inks Deal With AccuWeather (Exclusive)". The Hollywood Reporter. Retrieved November 11, 2025.
  32. ^ Winslow, George (November 10, 2025). "MS NOW Inks Deal with AccuWeather for Weather Coverage". TV Tech. Retrieved November 11, 2025.
  33. ^ Hayes, Dade (November 12, 2025). "Versant Designates USA Sports As Brand For Sports Programming On Golf Channel And USA Network". Deadline. Retrieved November 18, 2025.
  34. ^ "Versant's USA Sports Inks Five-Year Rights Deal With New Pac-12 Conference". Sports Video Group. Retrieved November 18, 2025.
  35. ^ Feldman, Jacob (November 17, 2025). "Why NBC Sports Network Is Back From the Dead". Sportico.com. Retrieved November 21, 2025.
  36. ^ Clover, Juilian (January 14, 2026). "Versant completes Free TV Networks acquisition". Broadband TV News.
  37. ^ Porter, Rick (December 4, 2025). "Versant Plans Fandango FAST Offering, Acquires Digital Broadcast Operator Free TV Networks". The Hollywood Reporter. Retrieved December 5, 2025.
  38. ^ Patton, Tess (December 4, 2025). "Versant Acquires FAST Channel Provider Free TV Networks". TheWrap. Retrieved December 5, 2025.
  39. ^ Maglio, Tony (December 17, 2025). "Rory McIlroy and Versant Are Launching a Production Company". The Hollywood Reporter. Retrieved January 4, 2026.
  40. ^ Porter, Rick (January 8, 2026). "'Keeping Up With the Kardashians' Library Heading to Hulu in Deal With Versant". The Hollywood Reporter. Retrieved January 9, 2026.
  41. ^ Goldsmith, Jill (December 3, 2025). "Comcast Board Approves Separation Of Cable Networks Into New Versant Media Group In January". Deadline. Retrieved December 5, 2025.
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