Overview
- Versant began regular trading on Nasdaq under ticker VSNT, with shares down more than 12%–14% in early trading after opening near $45 and slipping below $40.
- The separation became effective Jan. 2 at 11:59 p.m. ET, with Comcast executing a tax-free distribution of one Versant share for every 25 Comcast shares.
- The new company includes CNBC, MS Now (formerly MSNBC), USA Network, Golf Channel, E! and SYFY plus digital brands Fandango and Rotten Tomatoes, while Comcast retains NBC, Peacock and Bravo.
- Versant projected 2025 revenue of about $6.7 billion, $2.3 billion in EBITDA and $1.5 billion in free cash flow, starts with roughly $3 billion in gross debt and $750 million in cash, and received BB credit ratings.
- Leadership outlined plans for a Fandango FAST offering, a 2026 direct-to-consumer product for MS Now, enhanced CNBC investor products, licensing deals with streamers, targeted acquisitions, a dividend funded at 20% of free cash flow and authorization sought for up to $1 billion in buybacks.