Versant Media plunges on debut after Comcast spinoff

Versant Media

05/01/2026 14:50

** Cable networks co Versant Media Group's VSNT.O shares fall ~14% to $40 on first day of trading

** Comcast CMCSA.O completes spinoff of cable networks division into VSNT; includes channels such as CNBC and USA Network

** Existing CMCSA shareholders received one share of VSNT Class A or Class B common stock for every 25 shares of CMCSA Class A or Class B common stock, respectively

** Spinoff VSNT headed by Mark Lazarus as CEO

** Versant's assets generate ~$7 bln in annual revenue, co says

 (Reporting by Anhata Rooprai in Bengaluru)

 ((Anhata.Rooprai@thomsonreuters.com))