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Versant launch marks Comcast's cable spin-off
Los Angeles Times
|January 06, 2026
Shares in new firm, which includes CNBC and MS NOW, fall 13% in Wall Street debut.
VERSANT offers a test of investor willingness to hold on to legacy cable channels.
(MICHAEL NAGLE Bloomberg)
Comcast has officially spun off its cable channels, including CNBC and MS NOW, into a separate company, Versant Media Group.
The transaction was completed late Friday. On Monday, Versant took a major tumble in its stock market debut-providing a key test of investors' willingness to hold on to legacy cable channels.
The initial outlook wasn't pretty, providing awkward moments for CNBC anchors reporting the story.
Versant fell 13% to $40.57 a share in its inaugural trading day. The stock opened Monday on Nasdaq at $45.17 per share.
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