Editing NBCUniversal (section)

===={{anchor|Versant}}Restructuring and Versant spin-off====
[[File:Versant logo.svg|thumb|Versant's logo.]]
Following Jeff Shell's exit in 2023, NBCUniversal announced that corporate management will be led by a leadership team while Michael J. Cavanagh continues to oversee Comcast as a whole.<ref>{{cite web|url=https://www.hollywoodreporter.com/business/business-news/donna-langley-promoted-nbcuniversal-1235529970/|title= NBCUniversal Shake-Up: Donna Langley, Mark Lazarus, Cesar Conde Upped; Susan Rovner Out|first=Alex|last=Weprin|date=6 July 2023|accessdate= 9 July 2023|work=[[The Hollywood Reporter]]}}</ref>

On November 20, 2024, Comcast announced that it would spin off most of its cable networks and selected digital properties into a new publicly-traded company led by Mark Lazarus.<ref name="latimesspinoff">{{Cite web |date=2024-11-20 |title=Comcast to spin off MSNBC, CNBC and other cable channels |url=https://www.latimes.com/entertainment-arts/business/story/2024-11-19/comcast-to-spin-off-msnbc-cnbc-and-cable-channels |access-date=2024-11-25 |website=Los Angeles Times |language=en-US}}</ref> Initially referred to under the interim name "SpinCo", the company's name was announced as "Versant" on May 6, 2025.<ref name=":0">{{Cite web |last=Weprin |first=Alex |date=2025-05-06 |title=Comcast’s Cable TV Spinoff Now Has a Name: Versant |url=https://www.hollywoodreporter.com/business/business-news/versant-comcast-cable-tv-spinoff-name-1236208909/ |access-date=2025-05-07 |website=The Hollywood Reporter |language=en-US}}</ref> 

Versant will consist of properties such as [[USA Network]], [[CNBC]], [[MSNBC]], [[E!]], [[Golf Channel]], [[Oxygen (TV channel)|Oxygen]], and [[Syfy]], as well as digital properties such as [[Fandango Media]] and SportsEngine; the aim of the spin-off is to separate them from NBCUniversal's flagship businesses, while providing them with the ability to make their own further investments and acquisitions.<ref name="latimesspinoff" /><ref name="varietyspinoff">{{Cite web |last=Spangler |first=Todd |date=November 20, 2024 |title=Comcast Announces Spin-Off of Most Cable Networks Into New Company to 'Set These Businesses Up for Future Growth,' CEO Brian Roberts Says |url=https://variety.com/2024/tv/news/comcast-cable-network-spinoff-nbcuniversal-1236215225/ |access-date=November 22, 2024 |website=Variety}}</ref> NBCUniversal will retain [[Bravo (American TV network)|Bravo]], as the network is a major provider of content to Peacock.<ref name="latimesspinoff" />

Lazarus explained that Versant was not intended as a consumer-facing brand, and will be treated as a [[holding company]] and "house of brands"; a larger focus will be placed upon its individual properties, and decisions on digital operations (such as streaming) will be left to each network.<ref name=":0" /><ref>{{Cite web |last=Sherman |first=Alex |date=2025-05-06 |title=Comcast's cable spinoff to be named Versant, picked to emphasize corporate versatility |url=https://www.cnbc.com/2025/05/06/comcast-spinco-corporate-name-versant.html |access-date=2025-05-07 |website=CNBC |language=en}}</ref> He did not rule out investments into non-media properties that could compliment and be cross-promoted with Versant's networks, citing examples such as the Golf Channel-owned course booking platform [[GolfNow]].<ref name=":0" />

Shares in Versant will be distributed to Comcast shareholders and trade independently thereafter; it will have the same share structure as Comcast, with [[Brian L. Roberts]] and his family holding a 33% voting share.<ref name="latimesspinoff" /> It will be headquartered at a new location in Manhattan. Master control for its cable networks will be based out of CNBC's studios in [[Englewood Cliffs, New Jersey]], while Versant will lease additional space at NBC's existing Washington, D.C. facility at 400 North Capitol to serve as CNBC and MSNBC's Washington bureau.<ref>{{Cite web |last=Goldsmith |first=Jill |date=2025-02-28 |title=Comcast's Cable 'SpinCo' Is Scouting Space For New Manhattan Headquarters, "Closing In" On Name As Separation Takes Shape |url=https://deadline.com/2025/02/comcasts-nbcuniversal-cable-spinoff-new-manhattan-headquarters-1236305786/ |access-date=2025-03-04 |website=Deadline |language=en-US}}</ref> NBCUniversal will provide advertising sales for Versant channels for two years after the completion of the spin-off.<ref>{{Cite web |last=Hayes |first=Dade |date=2025-05-07 |title=NBCUniversal To Handle Sales For Comcast’s Cable Spinoff Versant Under Two-Year Agreement |url=https://deadline.com/2025/05/nbcuniversal-adsales-comcast-cable-spinoff-versant-1236388690/ |access-date=2025-05-07 |website=Deadline |language=en-US}}</ref>

Questions have been raised over how the spin-off will impact the synergies between the networks and legacy divisions being retained by NBCUniversal—including in particular, the [[NBC News]] and [[NBC Sports]] divisions.<ref name="latimesspinoff" /><ref name="varietyspinoff" /><ref>{{Cite web |date=2024-11-21 |title=NBC owners to spin off Golf Channel. What's next for the network? |url=https://golf.com/news/nbc-owners-spin-off-golf-channel-whats-next/ |access-date=2024-11-25 |website=Golf |language=en-US}}</ref><ref>{{Cite web |last=Weprin |first=Alex |date=2024-11-21 |title=All Bets Are Off for MSNBC, CNBC and Bravo: Behind the TV Spinoff That Will Shake Up Cable |url=https://www.hollywoodreporter.com/business/business-news/comcast-cable-spinoff-msnbc-bravo-sports-1236068481/ |access-date=2024-11-25 |website=The Hollywood Reporter |language=en-US}}</ref> NBC Sports president Rick Cordell stated that the division would "fulfill every obligation" it has with networks that are part of the spin-off, suggesting they will still carry programming covered under current contracts (such as the Olympic Games and [[PGA Tour]]).<ref>{{Cite web |last=Lerner |first=Drew |date=2024-11-20 |title=NBC Sports president on spinoff: 'We're going to fulfill every obligation' |url=https://awfulannouncing.com/nbc/rick-cordella-spinoff-fulfill-every-obligation.html |access-date=2024-12-20 |website=Awful Announcing |language=en-US}}</ref> On the other hand, Lazarus stated that Versant was considering pursuing its own sports rights, with a focus on properties that "drive distribution, diversify ad sales and have a value".<ref>{{Cite web |last=Sherman |first=Alex |date=2025-05-08 |title=CNBC Sport: Versant CEO Mark Lazarus outlines his sports strategy |url=https://www.cnbc.com/2025/05/08/cnbc-sport-versant-ceo-mark-lazarus-outlines-his-sports-strategy.html |access-date=2025-05-18 |website=CNBC |language=en}}</ref>