Comcast has officially spun off its cable channels, including CNBC and MS NOW, into a separate company, Versant Media Group. Discovery attempts to separate its cable channels, including CNN, TBS and Food Network, from the Warner Bros. studios and HBO later this year. Warner Bros. Management of the New York-based Versant, including longtime NBCUniversal sports and television executive Mark Lazarus, has been bullish on the company's balance sheet and its prospects for growth. Through the spin-off, Comcast shareholders received one share of Versant Class A common stock or Versant Class B common stock for every 25 shares of Comcast Class A common stock or Comcast Class B common stock, respectively.

Source: Los Angeles Times January 06, 2026 02:45 UTC