Versant

Announcement and lead-up

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)

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]