The Comcast board has approved the previously announced separation of its cable television networks and associated online services and the creation of an independent, publicly traded company called Versant Media Group. The new company is expected to begin trading in early January 2026 under the Nasdaq symbol VSNT. Versant has meanwhile acquired Free TV Networks.
The planned spin-off will comprise NBCUniversal cable television networks, including USA Network, CNBC, MS NOW, Oxygen, E!, SYFY and the Golf Channel, together with online offerings Fandango, Rotten Tomatoes, GolfNow, GolfPass, and Sports Engine.
MS NOW is the new name for MSNBC, which began in 1996 as a joint venture between Microsoft and NBC News, although Microsoft divested its stake in the channel in 2005 and the web site in 2012.
Versant is meanwhile acquiring Free TV Networks, which provides both broadcast networks and online channels. It launched at the start of 2024.
“As we prepare to launch Versant as an independent public company, we are focused on building a business with greater scale, more ways to reach audiences, and a stronger foundation for long-term growth,” said Mark Lazarus, the chief executive of Versant. “Reaching an agreement with Free TV Networks furthers that ambition and reflects our commitment to expanding the range of services and experiences we offer.”
Jonathan Katz, the founder of FTN, will join Versant and continue to lead the day-to-day operations of the business, reporting into David Pietrycha, the chief revenue and business officer.