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Versant

From Wikipedia, the free encyclopedia

Versant Media Group, Inc.
Versant
TypePublic
IndustryMedia
FoundedJanuary 2, 2026; 8 months ago (2026-01-02)
Headquarters
New York City
,
United States
Area served
  • United States
  • Worldwide (via CNBC)
Key people
Brands
Services
RevenueDecrease US$6.69 billion[1] (2025)
Decrease US$930 million (2025)[1]
OwnerBrian L. Roberts (1% equity interest, 33% voting power)
Subsidiaries
Websiteversantmedia.com

Versant Media Group, Inc., doing business as Versant (/ˈvɜːrsənt/[2]), is an American multinational mass media and technology company. Versant is headquartered at 229 West 43rd Street in Midtown Manhattan in New York City,[3][4] while technical operations and master control for its networks are housed at CNBC's world headquarters in Englewood Cliffs, New Jersey.[5]

The company began operations on January 2, 2026, as a spin-off from Comcast subsidiary NBCUniversal, consisting of cable networks such as USA Network, MS NOW, CNBC, Golf Channel, E!, Syfy, and Oxygen, their related digital properties such as GolfNow, Fandango, and Rotten Tomatoes, as well as digital multicast television network operator Free TV Networks. Versant shares were distributed to Comcast shareholders, with Brian L. Roberts continuing to hold a 33% voting share.[6][7]

History

[edit]

Announcement and lead-up

[edit]

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."[8]

On November 20, 2024, Comcast announced its intent to spin off most of NBCUniversal's cable networks and selected digital properties into a new publicly traded company.[6] 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][9] The spin-off would include assets 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, and SportsEngine (a technology platform for youth sports organizations, then part of NBC Sports Digital).[6] Bravo was excluded from the spin-off because it is a major provider of original content for Peacock,[6] while Universal Kids would close on March 6, 2025.[10]

Initially referred to under the interim name "SpinCo," on May 6, 2025, it was announced that the company would be called Versant,[11] a name developed by Catchword.[12] 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.[11][13] Versant is also aiming to invest in non-media businesses that have synergies with its media properties,[14] with Lazarus citing existing examples such as Golf Channel's ownership of the reservations platform GolfNow.[11][13]

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][9][15][16] Under its new president, Rebecca Kutler, MSNBC began expanding its newsgathering resources and Washington staff so it could operate with autonomy from NBC News.[17][18][19] Versant will lease space for CNBC and MSNBC's Washington, D.C., bureaus at NBC's existing facility at 400 North Capitol.[5] NBCUniversal will also provide advertising sales for Versant channels for two years after the completion of the spin-off,[20] and the Versant channels participated in NBCUniversal's 2026 upfronts.[21]

NBC Sports president Rick Cordella stated that the division would "fulfill every obligation" it currently has with the Versant channels;[22][23][24] 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 was the first major media rights deal negotiated by Comcast to incorporate Versant.[25][26] Alongside 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.[27]

In June 2025, Versant leased space at 229 West 43rd Street in Times Square to serve as its headquarters.[28] While the building was originally intended to be an interim location, Lazarus later announced that the company would lease additional space and make it its permanent headquarters, citing the building's central location and "operational effectiveness".[4]

In October 2025, both CNBC and MSNBC began the process of formally separating themselves from NBC News.[29][30] As part of the spin-off, the two channels and Golf Channel also underwent rebrandings to remove the NBC logo, with MSNBC renamed "MS NOW" (a backronym of "My Source [for] News, Opinion, [and the] World"), CNBC adopting a new wordmark 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),[31] and Golf Channel reinstating a version of its original logo.[32]

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.[33][34] The same month, Versant officially launched USA Sports to cover programming across its channels, including USA Network and Golf Channel.[35][36] 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).[37]

Post spin-off (2026–present)

[edit]

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.[38] On December 4, 2025, Versant also 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),[39] 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.[40][41]

Later in December 2025, 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".[42]

In January 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.[43]

In April 2026, Versant announced that it would acquire the AI-based financial analytics platform StockStory for an undisclosed amount; it will primarily be integrated with CNBC.[44]

Versant announced the sale of SportsEngine to PlayMetrics on May 1, 2026.[45][46] On June 2, 2026, Versant invested in microdrama distributor GammaTime.[47] On July 6, 2026, Versant announced that it would acquire the sports simulator manufacturer Full Swing for $530 million; the company will operate as part of Versant's Digital Platforms and Ventures division, and as part of the Golf Channel unit.[48] The Full Swing acquisition was completed on August 3, 2026.[49]

In July 2026, Versant entered early talks into acquiring film discussion platform Letterboxd, alongside Sony, Netflix and Paramount.[50]

Versant reported second-quarter revenue of $1.644 billion and net income of $211 million on August 6, 2026.[51] Revenue from Versant’s Platforms segment increased 9.3% year over year in the second quarter of 2026, excluding the impact of SportsEngine.[52]

Assets

[edit]

Current

[edit]

Versant houses the following assets:

Licensed

[edit]

Former

[edit]

Divested

[edit]
  • SportsEngine (sold to PlayMetrics on May 1, 2026)

See also

[edit]

References

[edit]
  1. 1 2 "Versant Media Group, Inc. Form 10-K for the fiscal year ended December 31, 2025". U.S. Securities and Exchange Commission. March 3, 2026. Retrieved August 31, 2026.
  2. ↑ "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.
  3. ↑ "Comcast's Board Approves Separation of Versant Media Group, Inc". Comcast. Retrieved December 8, 2025.
  4. 1 2 Patton, Tess (December 22, 2025). "Versant Designates New York Office as Permanent Headquarters". TheWrap. Retrieved December 23, 2025.
  5. 1 2 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.
  6. 1 2 3 4 5 6 "Comcast to spin off MSNBC, CNBC and other cable channels". Los Angeles Times. November 20, 2024. Retrieved November 25, 2024.
  7. ↑ Goldsmith, Jill (December 3, 2025). "Comcast Board Approves Separation Of Cable Networks Into New Versant Media Group In January". Deadline Hollywood.
  8. ↑ 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.
  9. 1 2 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.
  10. ↑ "NBCUniversal is shutting down Universal Kids". Kidscreen. January 13, 2025.
  11. 1 2 3 Weprin, Alex (May 6, 2025). "Comcast's Cable TV Spinoff Now Has a Name: Versant". The Hollywood Reporter. Retrieved May 7, 2025.
  12. ↑ "Versant | Naming NBCUniversal's cable and digital spinoff company". Catchword. Retrieved April 26, 2026.
  13. 1 2 Sherman, Alex (May 6, 2025). "Comcast's cable spinoff to be named Versant, picked to emphasize corporate versatility". CNBC. Retrieved May 7, 2025.
  14. ↑ Goldbart, Max (January 5, 2026). "Comcast Completes Separation Of Versant Media". Deadline. Retrieved July 7, 2026.
  15. ↑ "NBC owners to spin off Golf Channel. What's next for the network?". Golf Magazine. November 21, 2024. Retrieved November 25, 2024.
  16. ↑ 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.
  17. ↑ 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.
  18. ↑ Steinberg, Brian (February 23, 2025). "Joy Reid and Alex Wagner Axed From MSNBC Lineup in Major Network Shakeup". Variety. Retrieved February 23, 2025.
  19. ↑ Johnson, Ted (August 6, 2025). "NBC News Names Deputy D.C. Bureau Chief; MSNBC Makes Additional Washington Hires". Deadline. Retrieved August 13, 2025.
  20. ↑ Hayes, Dade (May 7, 2025). "NBCUniversal To Handle Sales For Comcast's Cable Spinoff Versant Under Two-Year Agreement". Deadline. Retrieved May 7, 2025.
  21. ↑ Spangler, Todd (October 8, 2025). "NBCUniversal Sets Date for 2026 Upfront, Which Will Include Networks Spinning Off Into Versant". Variety. Retrieved November 18, 2025.
  22. ↑ Lerner, Drew (November 20, 2024). "NBC Sports president on spinoff: 'We're going to fulfill every obligation'". Awful Announcing. Retrieved December 20, 2024.
  23. ↑ Awful Announcing Staff. "NBC reveals NBA schedule highlights, new WNBA Finals agreement". awfulannouncing.com. Awful Announcing. Retrieved July 23, 2024.
  24. ↑ Brendon Kleen. "Cable spinoffs Versant and Discovery Global are punishing sports fans most of all". awfulannouncing.com. Awful Announcing. Retrieved September 6, 2025.
  25. ↑ "USGA strikes media rights deal with NBC and new company Versant through 2032". Golf Digest. Retrieved August 13, 2025.
  26. ↑ "5 things to know from the USGA's new 6-year TV deal with NBC". Golf Magazine. August 12, 2025. Retrieved August 13, 2025.
  27. ↑ Johnson, Ted (August 18, 2025). "MSNBC To Change Name To MS NOW As Part Of Split With Comcast". Deadline. Retrieved August 18, 2025.
  28. ↑ Manfredi, Lucas (June 2, 2025). "Comcast's Versant Finds Temporary Location for New York HQ". TheWrap. Retrieved July 31, 2025.
  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. ↑ "Versant Reveals New MS NOW DTC Platform, New CNBC Logo". Adweek. December 5, 2025. Retrieved December 6, 2025.
  32. ↑ "Golf Channel unveils updated logo design — and it will look familiar to many". NewscastStudio. Retrieved December 20, 2025.
  33. ↑ Weprin, Alex (November 10, 2025). "MS NOW Gets Into the Weather Business, Inks Deal With AccuWeather (Exclusive)". The Hollywood Reporter. Retrieved November 11, 2025.
  34. ↑ Winslow, George (November 10, 2025). "MS NOW Inks Deal with AccuWeather for Weather Coverage". TV Tech. Retrieved November 11, 2025.
  35. ↑ 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.
  36. ↑ "Versant's USA Sports Inks Five-Year Rights Deal With New Pac-12 Conference". Sports Video Group. Retrieved November 18, 2025.
  37. ↑ Feldman, Jacob (November 17, 2025). "Why NBC Sports Network Is Back From the Dead". Sportico.com. Retrieved November 21, 2025.
  38. ↑ "Comcast's Board Approves Separation of Versant Media Group, Inc". Comcast. Retrieved December 8, 2025.
  39. ↑ Clover, Juilian (January 14, 2026). "Versant completes Free TV Networks acquisition". Broadband TV News.
  40. ↑ Porter, Rick (December 4, 2025). "Versant Plans Fandango FAST Offering, Acquires Digital Broadcast Operator Free TV Networks". The Hollywood Reporter. Retrieved December 5, 2025.
  41. ↑ Patton, Tess (December 4, 2025). "Versant Acquires FAST Channel Provider Free TV Networks". TheWrap. Retrieved December 5, 2025.
  42. ↑ Maglio, Tony (December 17, 2025). "Rory McIlroy and Versant Are Launching a Production Company". The Hollywood Reporter. Retrieved January 4, 2026.
  43. ↑ 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.
  44. ↑ Goldsmith, Jill (April 2, 2026). "Versant Acquires StockStory Platform To Enhance CNBC's Digital Growth". Deadline. Retrieved May 28, 2026.
  45. ↑ "PlayMetrics Acquires SportsEngine from Versant". playmetrics.com. May 1, 2026. Retrieved September 17, 2026.
  46. ↑ Hayes, Dade (May 1, 2026). "Versant Sells Youth Sports Digital Outlet SportsEngine". Deadline. Retrieved May 1, 2026.
  47. ↑ Steinberg, Brian (June 2, 2026). "Versant Media Invests in Microdrama Distributor GammaTime". Variety. Retrieved July 24, 2026.
  48. ↑ Hayes, Dade (July 6, 2026). "Versant Acquires Sports Tech Firm Full Swing For $530M". Deadline. Retrieved July 7, 2026.
  49. ↑ "VERSANT COMPLETES ACQUISITION OF FULL SWING". VERSANT. Retrieved September 17, 2026.
  50. ↑ Belloni, Matthew (July 10, 2026). "Netflix's YouTube Anxiety Attack". Puck. Retrieved July 10, 2026.
  51. ↑ "Versant Media Reports Second Quarter 2026 Operating and Financial Results". yahoo!finance. August 6, 2026. Retrieved September 17, 2026.
  52. ↑ "Versant lifts annual revenue forecast as digital growth offsets pay-TV weakness". Reuters. August 6, 2026. Retrieved September 17, 2026.
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