Comcast Announces Launch of New Cable Networks Spinoff Versant

News Summary

Comcast has unveiled its new venture, Versant, which will manage a variety of popular cable networks such as USA Network, CNBC, and MSNBC. The spinoff aims to reach over 65 million households and is projected to generate $7 billion in annual revenue. Led by veteran industry executives, including CEO Mark Lazarus, Versant promises to bring exciting developments to viewers. The spinoff is expected to be completed by the end of 2025, and many are eager to see the impact this bold move will have on the entertainment landscape.

Comcast Moves Forward with New Venture: Say Hello to Versant!

Philadelphia is buzzing with excitement as Comcast has announced its anticipated lineup of board members for their upcoming cable networks spinoff, Versant! This new venture will become the home of NBCUniversal’s impressive collection of cable networks.

What to Expect from Versant

Once it officially launches, Versant will serve as the parent company of a number of fan-favorite networks including:

• USA Network
• CNBC
• MSNBC
• Oxygen
• E!
• SYFY
• Golf Channel

But that’s not all! On the digital side, Versant will also house popular platforms like:

• Fandango
• Rotten Tomatoes
• GolfNow
• GolfPass
• SportsEngine

What makes this even more thrilling is that Versant is expected to reach over 65 million U.S. households and rake in an impressive $7 billion in annual revenue. Wow!

Meet the Leaders of Versant

Slated to take charge as CEO of Versant is Mark Lazarus, who previously served as the chairman of NBCUniversal Media Group. His extensive experience in the industry bodes well for the new chapter at Comcast.

As for the board, it’s a star-studded lineup filled with industry veterans and savvy business minds:

• David Novak, a longstanding member of the Comcast board and former CEO of Yum Brands, will take on the role of chairman of Versant.
• Rebecca Campbell, former chair at Disney, and now interim CEO of Meow Wolf, is lending her expertise to the board.
• Creighton Condon, a counselor at a leading global law firm, will also join the team.
• Michael Conway, the former CEO of Starbucks North America, brings his rich experience from major companies like Johnson & Johnson.
• David Eun, known for his work at Samsung Electronics and Kanza AI, is another valuable addition.
• Gerald Hassell, who once served as the CEO of Bank of New York Mellon, will bring a wealth of financial insight to the board.
• Scott Mahoney represents the world of golf apparel as chairman and CEO of Peter Millar.
• Maritza Montiel, with her impressive background in consulting at Deloitte, rounds out the board, along with her role at Royal Caribbean.
• Len Potter, the founder of Wildcat Capital Management, joins the ranks as well.

Meanwhile, Comcast’s own Brian Roberts will maintain ownership of one-third of the voting interests in Versant, although he won’t be taking up any board or management positions.

What Lies Ahead

The spinoff is set to be completed by the end of 2025, and it looks like Comcast is gearing up to make big waves in the industry with this bold move. With such a dynamic team leading Versant, viewers can expect exciting new developments and content from their favorite networks.

As the launch date approaches, fans and industry watchers alike will be eagerly anticipating what this fresh venture will bring to the world of entertainment. Buckle up, folks—Versant is on its way!

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Additional Resources

• CNBC: Comcast Spinoff Versant Board of Directors
• Wikipedia: Comcast
• Variety: Versant Board of Directors
• Business Wire: VERSANT Board of Directors Announced
• Hollywood Reporter: Comcast’s Versant Names Board Members