Comcast cable spinoff to be named Versant

Comcast’s (CMCSA) spinoff of the majority of its NBCUniversal cable network portfolio will be named Versant, the company said, according to Comcast-owned CNBC. Chief Executive Officer Mark Lazarus said in an interview that new company chose Versant to emphasize its versatility and its familiarity with multiple subjects. Versant will own cable networks including USA, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel and will also house digital assets Fandango, Rotten Tomatoes, GolfNow, GolfPass and SportsEngine, while the rest of Comcast’s NBCUniversal portfolio – including the broadcast network, Peacock streaming service, Universal Studios, the theme parks and Bravo – will remain with Comcast. Versant is on track to be spun out from Comcast before the end of 2025, Lazarus confirmed. The assets held by the new company generated about $7 billion in revenue last year, CNBC noted.