A new media company is about to enter the fray, and naturally, there are a lot of questions.
Earlier this week, Comcast and NBC announced the name of their impending spinoff entity: Versant. The new company is set to launch by year’s end, and sports fans are wondering what it all means for their ability to watch the events they love.
Fear not, Awful Announcing is here to tell you everything we know about Versant so far, and what we’re still waiting to find out before the company’s launch.
What is Versant?
Versant is the new entity formed out of Comcast/NBCUniversal’s current portfolio of cable networks. It will include USA, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel. Notably, it will exclude the NBC broadcast channel, the Bravo cable network, and the Peacock streaming service.
Versant will also house some digital assets, including Fandango, Rotten Tomatoes, GolfNow, GolfPass, and SportsEngine.
Will Versant still be owned by Comcast/NBC?
No. Versant will be a completely separate company with its own corporate structure headed by CEO Mark Lazarus, who was previously the chairman of NBCUniversal Media Group.
How can I access these channels after Versant launches?
The channels housed under the Versant umbrella will be available the same way consumers can currently access them: through a pay TV subscription. Per CNBC, the cable channels that will comprise Versant all have distribution deals locked down until 2027, with most coming up for renewal in 2028.
In layman’s terms, there won’t be any changes to where you can find these channels until at least 2027. If you get Golf Channel through DirecTV, that’ll stay the same. If you get CNBC through YouTube TV, that’ll stay the same.
Streaming, however, is a different story.
Will Versant have a streaming platform?
No, not directly. Per CNBC, Versant does not plan to launch its own streaming service that will include every channel under its umbrella. Instead, Versant will rely on its individual brands to develop digital strategies that best suit its customers.
That leaves a couple different options. Brands could launch their own streaming services. For instance, maybe MSNBC and CNBC will develop a direct-to-consumer service together and sell it as a standalone product.
Another option would see individual networks license their content to existing streaming services. Maybe Golf Channel wants to sell its programming to ESPN+, or heck, even Peacock if they offer the best deal!
Nobody knows, but the thing to understand is that each brand is free to operate this part of their business as they see fit.
What happens to sports that used to air on both NBC and a cable channel like USA?
This applies to quite a few properties, actually. So if you’re a fan of Premier League, golf, the Olympics, WWE, WNBA, or NASCAR, read up.
As NBC Sports president Rick Cordella alluded to last November, and Lazarus recently confirmed, all of the Versant-owned networks that currently air live sports will continue to do so after the channels are spun off.
That means USA will continue to air Premier League soccer, WWE’s Smackdown, NASCAR races, golf’s U.S. Open and Open Championship (AKA, the British Open), and the WNBA starting next year. Golf Channel will still keep its complete portfolio of PGA Tour events and the Ryder Cup. CNBC will still have its fair share of Olympic sports throughout the year. E! will continue to air figure skating. And all of the networks that have traditionally contributed to NBC’s Olympics coverage every other year will continue to do so.
As Cordella stated, “From a sports perspective, the partners that we have on cable assets like Golf Channel and USA, we’re going to fulfill every obligation, every promise we made to them across NBC.”
Will Versant compete with NBC for sports rights?
Yes! That already appears to be the case.
According to CNBC, Lazarus has already held talks with MLB and NWSL about acquiring live game rights. “We’re looking for sports deals that drive distribution, diversify ad sales, and have a value,” the CEO said. Notably, Lazarus mentioned that the company is not interested in the Formula One rights currently on the market.
Versant will be a completely new potential bidder for sports leagues in the coming years.
Will Versant look to acquire other cable networks?
While it was previously speculated that Versant could be a logical landing spot for other declining cable assets, Lazarus has indicated the company does not plan to acquire any other networks.
Per CNBC, “Lazarus said he has little interest in accumulating more debt attached to low-growth assets. If a cable network also had associated businesses that had better growth prospects, that could be more appealing on a case-by-case basis.”
Will NBC have any connection to Versant after it launches?
Yes. While Versant will be its own company for all intents and purposes, NBC will have a small role to play in its business. NBC will reportedly sell advertising inventory for Versant for the next two years. Ad inventory is typically sold well in advance, and helping Versant secure this revenue stream before launch should give the new company some stable footing to start.
Will the NBC-branded regional sports networks be included in Versant?
No, NBC Sports Bay Area, NBC Sports California, NBC Sports Philadelphia, and NBC Sports Boston will still be housed under the Comcast umbrella.
Where will the Versant channels be located?
Versant has been operating temporarily out of NBC’s iconic 30 Rock building in New York City, though the plan is to move permanently to another location within Manhattan.
As for the NBC Sports properties that used the Stamford, CT studios, such as Golf Channel, a new location is still up in the air. Versant’s sports studio programming will no longer be based in the NBC Sports studios, but it’s unclear where it will end up.
