Comcast names board for VERSANT spinoff media company

Comcast Corporation (NASDAQ: CMCSA) announced the expected board of directors for VERSANT Media Group, Inc., its planned spinoff of select media brands and digital businesses.

David Novak, a current Comcast board member and former CEO of Yum! Brands, will serve as chairman of the future publicly traded company. Mark Lazarus, currently chairman of NBCUniversal Media Group, will serve as CEO.

The board will include eight additional members bringing experience in media, technology, finance and other industries. Notable appointees include Rebecca Campbell, former chairman of international content and operations at Walt Disney Company, and David Eun, founding advisor to Kanza AI and co-founder of Alakai Group investment firm.

Other board members include Creighton Condon of law firm A&O Shearman, Michael Conway, former CEO of Starbucks North America, Gerald Hassell, former chairman and CEO of Bank of New York Mellon Corporation, Scott Mahoney, chairman and CEO of Peter Millar LLC, Maritza Montiel, former deputy CEO of Deloitte & Touche LLP, and Len Potter, founder of Wildcat Capital Management.

VERSANT will comprise cable television networks including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel, along with digital assets Fandango, Rotten Tomatoes, GolfNow and SportsEngine. The assets generate approximately $7 billion in revenue annually and reach over 65 million U.S. households.

The spinoff is expected to complete during 2025, subject to customary conditions. Information is based on a press release statement from Comcast.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Mosaic sets pricing for tender offers on up to $1.4B in debt
• Movano (MOVE) Misses Q2 EPS by 195c