Comcast Establishes Board of Directors for the Spin-Off Venture of Versant Corporation
Versant Media Group, a new media company set to become publicly traded, is set to separate from Comcast by the end of 2025. The company will house the majority of NBCUniversal's cable networks and certain digital businesses, including USA Network, CNBC, MSNBC, Oxygen, E!, Syfy, and Golf Channel, as well as digital assets such as Fandango, Rotten Tomatoes, GolfNow, and SportsEngine.
Versant Media Group is estimated to generate about $7 billion in revenue annually, according to Comcast. The company's board of directors consists of eight members with extensive leadership experience, positioning Versant with significant strategic and industry insight for its launch and growth.
David Novak, Chairman of the board for Versant Media Group, is a former CEO of Yum! Brands, the holding company of fast-food chains KFC, Pizza Hut, and Taco Bell. He will be joined by Mark Lazarus, CEO of Versant Media Group, who previously oversaw the company's TV and streaming platforms, distribution, and monetization as chairman of NBCUniversal Media Group.
Other notable board members include Rebecca Campbell, a former Chairman of International Content and Operations at Disney, Creighton Condon, Counsel at A&O Shearman law firm, Michael Conway, a former CEO of Starbucks North America, and Gerald Hassell, a former chairman and CEO of the Bank of New York Mellon.
Len Potter, Founder, President, and Chief Investment Officer of Wildcat Capital Management, and Scott Mahoney, Chairman and CEO of Peter Millar LLC, will also serve on the board, bringing experience from the retail and investment management sectors, respectively. David Eun, a former president of Samsung Electronics, and Maritza Montiel, former deputy CEO and vice chairman of Deloitte's U.S. business, will round out the board with their expertise in AI and the federal and commercial sectors, respectively.
Comcast CEO Brian Roberts will own one-third of the voting interests in Versant. Bravo will remain with NBCUniversal, not part of Versant Media Group. Versant brands are expected to reach over 65 million U.S. households.
With this diverse mix of expertise, Versant Media Group is well-positioned for success in the media industry. The company's separation from Comcast marks an exciting new chapter in the evolution of NBCUniversal's cable networks and digital businesses.
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- The diversified board of directors at Versant Media Group, consisting of individuals with extensive experience in finance, business, and technology sectors, will contribute significantly to the company's strategic and industry insights as it prepares for its launch and growth.
- As part of its digital assets, Versant Media Group houses well-established businesses like Fandango, Rotten Tomatoes, GolfNow, and SportsEngine, demonstrating its strong connection with the technology sector.
