PHILADELPHIA, PA — Comcast Corporation (NASDAQ: CMCSA) has completed the long-anticipated separation of Versant Media Group, Inc., turning the media business into a standalone, publicly traded company in a move that reshapes one of America’s largest communications empires.
The spin-off became effective at 11:59 p.m. Eastern Time on Thursday, January 2, 2026, with Versant beginning regular-way trading that Monday on the Nasdaq Stock Market under the ticker symbol VSNT.
Under the terms of the transaction, Comcast shareholders received one share of Versant Class A or Class B common stock for every 25 shares of Comcast stock they owned, based on holdings at the close of business on the December 16, 2025, record date. The distribution of Versant shares was completed after the Nasdaq market closed on January 2.
The separation creates two independent public companies, giving Versant its own balance sheet, leadership structure, and access to capital markets, while allowing Comcast to sharpen its focus on its core broadband, wireless, and entertainment operations.
The transaction was backed by a team of Wall Street heavyweights. Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and PJT Partners LP served as financial advisors to Comcast, while Davis Polk & Wardwell LLP acted as legal counsel.
For investors, the debut of Versant marks a pivotal moment, unlocking a new pure-play media company and setting the stage for strategic moves that were not possible inside the Comcast corporate structure. As trading begins under the VSNT ticker, Wall Street will be watching closely to see how the newly independent company performs now that it is standing on its own.
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