Versant Share on Facebook Share on X Google Preferred Share to Flipboard Show additional share options Share on LinkedIn Share on Pinterest Share on Reddit Share on Tumblr Share on Whats App Send an Email Print the Article Post a Comment Versant is set to officially be its own independently traded company following the close of trading Jan. 2. The news comes after the board of directors at Comcast approved the previously announced spin off of most of Comcast's cable TV assets, including USA, Syfy, E!, CNBC, MSNBC, Oxygen and Golf Channel, as well as digital businesses such as Fandango and Rotten Tomatoes. Cable channel Bravo, the NBC broadcast network and streaming service Peacock will remain part of Comcast's entertainment arm NBCUniversal. Related Stories Business Warner Bros. Empire Hangs in the Balance As Second Round Bids Arrive Business Paramount, Comcast and Netflix Make Official Bids for Warner Bros. Discovery as High-Stakes Fight for the Company Begins Versant is set to be led by CEO Mark Lazarus, CFO and COO Anand Kini and chairman David Novak. Comcast shareholders will receive one share of Versant Class A common stock or Versant Class B common stock for every 25 shares of Comcast Class A common stock or Comcast Class B common stock, respectively, held at the close of business on the "record date" of Dec. 16. Shares are set to be distributed after the close of trading on Jan. 2. Following the distribution of shares, Versant will be an independent, publicly traded company. The company has received approval for the listing of its common stock on Nasdaq under the symbol "VSNT." Comcast president Mike Cavanagh had first mentioned in October 2024 that the company was considering a spin off of its cable networks unit due to the business challenges that cord-cutting amid the growth of streaming have created for cable channel units. "Like many of our peers in media, we are experiencing the effects of the transition in our video businesses and have been studying the best path forward for these assets," he said at the time. THR Newsletters Sign up for THR news straight to your inbox every day Subscribe Sign Up Ilana Glazer Ilana Glazer Launches New Video Podcast 'It's Open' (Exclusive) Theater New York Times Hires Helen Shaw as Chief Theater Critic Production News Can Hollywood Stay In Hollywood? A Panel (In London) Debates Top Gear Driven, a Car-Focused Streaming Platform, Plans Launch Next Year redbird imi Jeff Zucker Is Bullish That AI Can Bring Down Production Costs Amazon Prime Video Amazon's Fire TV Devices Add a New Party Trick: Describe a Scene in a Movie, and Prime Queues It Up Ilana Glazer Ilana Glazer Launches New Video Podcast 'It's Open' (Exclusive) Theater New York Times Hires Helen Shaw as Chief Theater Critic Production News Can Hollywood Stay In Hollywood? A Panel (In London) Debates Top Gear Driven, a Car-Focused Streaming Platform, Plans Launch Next Year redbird imi Jeff Zucker Is Bullish That AI Can Bring Down Production Costs Amazon Prime Video Amazon's Fire TV Devices Add a New Party Trick: Describe a Scene in a Movie, and Prime Queues It Up