The historic sundering of NBC from a portfolio of cable networks that have girded it for years will take place early next year.
Comcast, NBC’s corporate parent will on January 2 spin off MSNBC, CNBC and a group of other businesses into a new company called Versant, the company revealed Wednesday.
Comcast shareholders will receive one share of Versant Class A common stock or Versant Class B common stock for every 25 shares of Comcast Class A common stock or Comcast Class B common stock they hold, respectively, held at the close of business on the record date of December 16. Distribution of Versant shares should be complete following the close of trading on Nasdaq on January 2, 2026.
The new publicly traded entity, led by CEO Mark Lazarus (above, pictured) will be comprised of the aforementioned cable networks along with E!, Oxygen, Golf Channel, USA and some digital assets, including Fandango and Rotten Tomatoes. Comcast envisions the transaction as a driver of value for its NBC and Telemundo broadcast networks and Peacock streaming service, which will no longer be tethered to a large group of cable networks, which have been ceding ad dollars and audience to streaming outlets. NBCU will keep Bravo, which has programming that proves popular with streaming audiences.
Comcast said completion of the spin-off was subject to certain conditions, including that “no event or development will have occurred or exist that, in the judgment of the Board, in its sole discretion, makes it inadvisable to effect the distribution.”
Versant will trade under the ticker symbol VSNT on Nasdaq.