Comcast’s cable spinoff to be named Versant

New company won’t acquire additional networks

[Editor’s Note: This article was updated May 8.]

Comcast finally settled on a name for the soon-to-be spun-off cable networks from NBCUniversal, as they settled on Versant, replacing the prototype SpinCo name.

It was chosen after sorting through 43 entries, cut to a dozen, and sent through a committee, settling on Versant. The name means “a region of land sloping in one general direction” (whether it means up or down is unknown). The name won’t be used much publicly, as the individual properties that make up the company will be branded upfront to consumers. 

“When we first announced the spin-off, we knew it would require a new way forward for our iconic and beloved brands. We’ve done a lot of work over the last few months to identify who we are and how we will create a successful company, which led us to this next step,” Mark Lazarus said in a memo, who’ll be CEO of the new company. “With that in mind, I am thrilled to announce the name of our new company Versant, a blueprint for versatility, growth, and innovation. Versant is the house for our incredible brands, each of which stand on their own.”

• Lazarus then said, “Versant represents more than a name – it speaks to our adaptability and embraces the opportunity to shape a new, modern media company,” he added. “There were many considerations for a suitable name. Our internal team of incredibly skilled and experienced brand marketers, designers and media tacticians took into account our overarching goal to influence culture, connect communities and signify a unified direction forward.”

Versant will take over ownership of cable networks CNBC, MSNBC, Oxygen, SyFy, Golf Channel, E!, USA Network, and web portals Fandango, GolfPass, and Rotten Tomatoes. Versant would also own GolfNow, a tee-time reservation service acquired by the Golf Channel (and the gopher puppet who comes with it).

“Most people don’t know that GolfNow is even part of our company,” Lazarus pointed out. “We are not going to be purely a collection of linear and digital media assets.”

Lazarus pointed out that twenty percent of Versant’s revenue comes from digital and isn’t launching a streaming service, though it’s likely Peacock will continue to handle those duties for Versant’s content, as it stays within the NBCU family, as does the TV network, its owned stations, Bravo, and Telemundo.

Don’t look for Versant to acquire any more cable networks or low-growth media properties, such as broadcast groups, but don’t be surprised if one of those groups makes an offer for Versant in a few years. 

NBC and Versant are currently in negotiations on how they would split up rights to sporting events, especially future Olympic Games, as NBCU could sub-license some to the new company. The NBC logo will likely be removed from CNBC, MSNBC, and the Golf Channel, as they will no longer be affiliated with the network.

The spinoff should be completed by the end of the year.