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<ul>
<li>Comcast-Versant separation creates two focused businesses, with Comcast retaining broadband and infrastructure assets while Versant operates standalone cable networks and digital platforms.</li>
<li>The spin-off to be completed on January 2, 2026. When-issued trading began on Dec 15, 2025, while regular way trading to commence from January 5, 2026.</li>
<li>Overall, separation enhances transparency, improves peer comparability, and offers investors differentiated exposure across media and connectivity assets.</li>
</ul>


Comcast-Versant separation creates two focused businesses, with Comcast retaining broadband and infrastructure assets while Versant operates standalone cable networks and digital platforms.
The spin-off to be completed on January 2, 2026. When-issued trading began on Dec 15, 2025, while regular way trading to commence from January 5, 2026.
Overall, separation enhances transparency, improves peer comparability, and offers investors differentiated exposure across media and connectivity assets.


Comcast (Nasdaq: CMCSA) To Spin-Off Versant Media on January 2

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<ul><li>Comcast plans to spin off its cable networks business in early 2026, with regular-way trading expected to begin on January 6, 2026.</li><li>Versant generates meaningful adjusted EBITDA and free cash flow.</li><li>However, despite the cash generation, it is difficult to build conviction in the equity story.</li></ul>

Comcast plans to spin off its cable networks business in early 2026, with regular-way trading expected to begin on January 6, 2026.Versant generates meaningful adjusted EBITDA and free cash flow.However, despite the cash generation, it is difficult to build conviction in the equity story.

Comcast Spin-off (Versant) Spin-off Deep Dive

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<ul><li>Comcast (CMCSA) will spin off Versant Media Group (VSNT), a portfolio of cable networks and digital platforms, as an independent public company in early 2026.</li><li>Comcast shareholders will receive 1 share of Versant (Class A or B) for every 25 shares of Comcast.</li><li>When issue trading of Versant (ticker: VSNTV) will begin around December 15, 2025.</li></ul>

Comcast (CMCSA) will spin off Versant Media Group (VSNT), a portfolio of cable networks and digital platforms, as an independent public company in early 2026.Comcast shareholders will receive 1 share of Versant (Class A or B) for every 25 shares of Comcast.When issue trading of Versant (ticker: VSNTV) will begin around December 15, 2025.

<ul><li>Comcast (CMCSA) announced in late 2024 that it would spin off a bundle of its traditional U.S. cable networks and related digital properties into a new independent company, now named Versant Media Group (VSNT).</li><li>Versant will host an analyst day on Thursday, December 4th and the spin-off is expected to take place in early 2026.</li><li>The move is driven by the secular decline of linear TV and the “transition of our video businesses”, as Comcast’s President Michael Cavanagh described.</li></ul>

Comcast (CMCSA) announced in late 2024 that it would spin off a bundle of its traditional U.S. cable networks and related digital properties into a new independent company, now named Versant Media Group (VSNT).Versant will host an analyst day on Thursday, December 4th and the spin-off is expected to take place in early 2026.The move is driven by the secular decline of linear TV and the “transition of our video businesses”, as Comcast’s President Michael Cavanagh described.

Weekly Update (MEDXF, MAGN, LEN/MRP, MODG)

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Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Comcast Corporation's latest earnings discussion presents a mixed picture of strategic initiatives, financial outcomes, and future outlooks, emphasizing both challenges and strategic opportunities.</li><li>The company announced a significant leadership transition, with Steve Croney set to become the CEO of the Connectivity & Platforms (C&P) business in 2026, following Dave Watson's shift to Vice Chairman of Comcast.</li><li>This move suggests a strong emphasis on continuity and strategic evolution within the organization.</li></ul>

Comcast Corporation's latest earnings discussion presents a mixed picture of strategic initiatives, financial outcomes, and future outlooks, emphasizing both challenges and strategic opportunities.The company announced a significant leadership transition, with Steve Croney set to become the CEO of the Connectivity & Platforms (C&P) business in 2026, following Dave Watson's shift to Vice Chairman of Comcast.This move suggests a strong emphasis on continuity and strategic evolution within the organization.

Comcast Corporation: Is The Growth In Peacock & Sports Content Here To Stay?

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Comcast Corporation provides media and television broadcasting services. The Company offers video streaming, television programming, high-speed internet, cable television, and communication services. Comcast serves customers worldwide.

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Comcast Corp Class A (CMCSA US)

Comcast (Nasdaq: CMCSA) To Spin-Off Versant Media on January 2

Comcast-Versant separation creates focused businesses, enhancing transparency and offering investors differentiated exposure across media and...

GSBR Research

Comcast Spin-off (Versant) Spin-off Deep Dive

Comcast plans to spin off its cable networks business in early 2026, with regular-way trading expected to begin on January 6, 2026.

Richard Howe

Weekly Update (VSNT, IDT, MICC)

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut vitae lectus quis felis volutpat volutpat Lorem ipsum dolor sit amet, consectetur...

Richard Howe

Weekly Update (MEDXF, MAGN, LEN/MRP, MODG)

Comcast (CMCSA) announced in late 2024 that it would spin off a bundle of its traditional U.S. cable networks and related digital properties into...

Richard Howe

Comcast Corporation: Is The Growth In Peacock & Sports Content Here To Stay?

Comcast Corporation's latest earnings discussion presents a mixed picture of strategic initiatives, financial outcomes, and future outlooks,...

Baptista Research

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Comcast (Nasdaq: CMCSA) To Spin-Off Versant Media on January 2

​Comcast-Versant separation creates focused businesses, enhancing transparency and offering investors differentiated exposure across media and...

GSBR Research

Comcast Spin-off (Versant) Spin-off Deep Dive

Comcast plans to spin off its cable networks business in early 2026, with regular-way trading expected to begin on January 6, 2026.

Richard Howe

Weekly Update (VSNT, IDT, MICC)

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut vitae lectus quis felis volutpat volutpat Lorem ipsum dolor sit amet, consectetur...

Richard Howe

Weekly Update (MEDXF, MAGN, LEN/MRP, MODG)

Comcast (CMCSA) announced in late 2024 that it would spin off a bundle of its traditional U.S. cable networks and related digital properties into...

Richard Howe

Comcast Corporation: Is The Growth In Peacock & Sports Content Here To Stay?

Comcast Corporation's latest earnings discussion presents a mixed picture of strategic initiatives, financial outcomes, and future outlooks,...

Baptista Research

Comcast-Versant separation creates focused businesses, enhancing transparency and offering investors differentiated exposure across media and...