Comcast announced Tuesday that its spinoff of the majority of its NBCUniversal cable network portfolio will be named Versant, concluding a monthslong effort to select a corporate identity for the new entity. The name, pronounced like the root of “conversant,” reflects the company’s versatility and deep expertise across multiple domains, according to Chief Executive Officer Mark Lazarus.
Versant, previously referred to as SpinCo, will encompass a robust portfolio of cable networks, including USA, CNBC, MSNBC, Oxygen, E!, SYFY, and Golf Channel. The company will also own digital assets such as Fandango, Rotten Tomatoes, GolfNow, GolfPass, and SportsEngine. These assets generated approximately $7 billion in revenue last year, positioning Versant as a significant player in the media landscape. Meanwhile, Comcast will retain NBCUniversal’s broadcast network, Peacock streaming service, Universal Studios, theme parks, and Bravo.
In an interview, Lazarus emphasized that Versant will operate as a “house of brands,” with each asset engaging directly with consumers rather than the corporate name taking center stage. “We’re going to focus on the individual brands, not the corporate name,” he said. “Versant is a holding company name, primarily for business-to-business purposes.”
The spinoff is on track to be completed before the end of 2025, Lazarus confirmed to CNBC. As the media industry undergoes rapid transformation, Versant aims to craft a compelling growth narrative for Wall Street. Lazarus hinted at a strategy that includes acquisitions beyond traditional media, citing Golf Channel’s acquisition of GolfNow, a tee-time reservation platform, as a model for building profitable, non-traditional businesses.
For CNBC, potential acquisitions could include personal finance or fintech platforms, while MSNBC may explore podcast acquisitions catering to Democratic audiences. Lazarus clarified that such podcast ventures would operate as separate business units, leveraging MSNBC’s platform for marketing rather than integrating into its cable programming. Versant will not launch its own streaming service, instead allowing its brands to pursue independent digital strategies. Currently, about 20% of the company’s revenue comes from digital sources.
Lazarus ruled out acquiring additional cable networks, citing their low-growth prospects and associated debt. He also expressed skepticism about acquiring TV station groups, noting regulatory challenges highlighted by FCC Chairman Brendan Carr, who recently criticized national media companies’ control over local stations.
The naming process for Versant involved extensive collaboration, with marketing employees from each brand contributing ideas. Starting in late December, the team generated over 1,000 potential names, many inspired by New York, cable TV, or NBCUniversal’s headquarters at 30 Rockefeller Center. Comcast enlisted three marketing agencies to refine the list, which was narrowed to 43 names after legal and trademark reviews. A dozen finalists were presented to a deciding committee, and Versant was selected for its evocative meaning—a region of land sloping in one direction, which Lazarus jokingly likened to “a rising stock price.”
As Versant prepares for its public debut, it is poised to return value to shareholders through dividends, according to a November CNBC report. With a focus on versatility and strategic growth, Versant aims to redefine its place in a dynamic media ecosystem.
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