Comcast Spins Off CNBC and Other Cable Channels Into Versant as Stock Sits at $23.73
Updated
Updated · Los Angeles Times · Jul 2
Comcast Spins Off CNBC and Other Cable Channels Into Versant as Stock Sits at $23.73
3 articles · Updated · Los Angeles Times · Jul 2
Summary
Comcast has officially separated cable channels including CNBC, MSNBC, USA Network and Golf Channel into Versant Media Group, carving out assets that once supplied much of NBCUniversal’s profit.
The move follows steep pressure on Comcast’s core businesses: cable TV and broadband losses, a weak stock price, and a streaming shift that has eroded the old economics of programming fees and box office revenue.
Peacock’s 46 million paying subscribers remain far behind Netflix’s 325 million and Disney+’s nearly 132 million, leaving NBCUniversal a subscale streaming player despite strong sports rights, broadcast performance and theme parks.
Brian Roberts, 67, said he will stay involved in both companies and keep family control for at least three years, while analysts see the separation as setting up broader deal options that Comcast denies.
The breakup reflects a wider power shift from traditional media moguls to tech-backed consolidators, with NBCUniversal potentially more exposed as rivals pursue megadeals such as the proposed $111 billion Paramount Skydance-Warner Bros. Discovery tie-up.
Is NBCUniversal’s spin-off a real plan for survival or just bait for a tech giant takeover?
As Hollywood giants merge, are viewers facing a future of less creativity and higher streaming prices?
Will AI-powered tech giants ultimately conquer Hollywood's legacy studios, regardless of these corporate shake-ups?
Breaking Up the Bundle: Comcast Spins Off NBCUniversal and Versant, Triggering a New Era in Media M&A and Streaming Competition
Overview
In June 2026, Comcast announced it will spin off NBCUniversal, creating two independent public companies: a new NBCUniversal and a Comcast focused on cable and technology. This strategic move, expected to finish within a year, aims to sharpen each company’s focus, boost agility, and deliver more value to shareholders. The new NBCUniversal will include major assets like NBC, Telemundo, Peacock, Universal Studios, and Sky, while Comcast shareholders will receive shares in both companies. Comcast’s CEO emphasized that the split is not a step toward mergers or acquisitions, but a plan to let each business grow independently.