European Investor
04 Dec 2025, 14:19
Comcast board approves spin-off of Versant Media Group
Comcast announced that its Board of Directors has formally approved the separation of a major portfolio of NBCUniversal cable networks and digital assets into a new independent, publicly traded company called Versant Media Group. The spin-off will be executed through a pro rata distribution of Versant shares to Comcast shareholders, with one Versant share issued for every 25 Comcast shares held on the December 16, 2025 record date. The distribution is expected to occur after market close on January 2, 2026.
Versant will begin “when-issued” trading on Nasdaq under the symbol VSNTV around December 15, transitioning to regular-way trading under the symbol VSNT on January 5, 2026. Comcast shares will trade with or without spin-off rights during the interim period, labeled CMCSA and CMCSV respectively.
The new company will encompass major cable brands including USA Network, CNBC, MSNBC, Oxygen, SYFY and Golf Channel, along with digital platforms such as Fandango, Rotten Tomatoes and GolfNow. Comcast expects the separation to be tax-free, subject to final tax advisor approval.
Comcast announced that its Board of Directors has formally approved the separation of a major portfolio of NBCUniversal cable networks and digital assets into a new independent, publicly traded company called Versant Media Group. The spin-off will be executed through a pro rata distribution of Versant shares to Comcast shareholders, with one Versant share issued for every 25 Comcast shares held on the December 16, 2025 record date. The distribution is expected to occur after market close on January 2, 2026.
Versant will begin “when-issued” trading on Nasdaq under the symbol VSNTV around December 15, transitioning to regular-way trading under the symbol VSNT on January 5, 2026. Comcast shares will trade with or without spin-off rights during the interim period, labeled CMCSA and CMCSV respectively.
The new company will encompass major cable brands including USA Network, CNBC, MSNBC, Oxygen, SYFY and Golf Channel, along with digital platforms such as Fandango, Rotten Tomatoes and GolfNow. Comcast expects the separation to be tax-free, subject to final tax advisor approval.
