Positioning for Independence
Versant, the cable television unit comprising Comcast’s MSNBC, CNBC, USA Network, Golf Channel, and various digital properties, is preparing to operate as an independent company following its planned separation from Comcast at the end of 2025. The spin-off will leave Comcast in control of NBCUniversal, including the flagship NBC network, Peacock, and NBC Sports. However, Versant will retain access to NBC’s sports portfolio for two years after the split, allowing it to broadcast events such as the Premier League, Olympic Games, and WNBA during that period.
Versant’s president of sport, Matt Hong, emphasized that viewers will continue to see major sports properties on the same channels immediately after the spin-off, maintaining consistency for audiences. This includes cross-platform arrangements, where NBC-managed events will appear on USA Network, and Versant-managed programming, like NASCAR, will still air on NBC.
Long-Term Sports Strategy
Once the two-year access window closes, Versant will need to negotiate its own rights deals, either with NBC or with other broadcasters and streaming services. The company’s first major agreement as an independent entity is a long-term partnership with NBC to secure rights to the U.S. Open and other USGA golf championships through 2032.
Hong stated that independence will allow Versant to pursue properties best suited to its cable-focused audience, which may not align with the younger demographic often targeted by streaming platforms. Without a direct-to-consumer streaming service, Versant is expected to prioritize rights that offer broad exposure and maximize advertising and carriage revenues. Potential future targets include Major League Baseball national rights, available from 2028, and the National Women’s Soccer League.
Growth, Acquisitions, and Potential Partnerships
Versant generates approximately $7 billion in annual revenue, giving it the financial capacity to pursue acquisitions. Hong indicated that “inorganic growth” — mergers and acquisitions — will be a priority, not only to expand sports coverage but also to diversify revenue streams. Industry speculation has linked Versant to a possible merger with another cable operator, such as Warner Bros. Discovery’s soon-to-be-separate cable business, to achieve scale, reduce costs, and strengthen negotiating power with distributors.
While sports will remain a core focus, Hong said any acquisition would need to make strategic sense beyond simply adding sports rights. The company plans to continue investing in its core linear business while seeking complementary opportunities that align with its programming mix.