Industry Insider: Versant and the $7 Billion Reboot of Comcast’s Media Empire
Comcast’s upcoming launch of Versant, an independent media company set to debut in late 2025, marks both a bold bet on the future and a clear break from its cable era past. Backed by roughly $7 billion dollars in annual revenue, Versant will unite a wide range of brands, including traditional networks such as USA, CNBC, MSNBC, E!, and Golf Channel, along with digital platforms like Fandango, Rotten Tomatoes, GolfNow, and SportsEngine.
Versant can be described as a "portfolio of brands." However, unlike most media companies that try to pull every audience into one giant streaming service, Versant is taking a completely different approach. There will be no direct streaming platform, no duplication of Peacock, and no last-minute attempts to keep cable alive. Instead, the company’s goal is to build something leaner, more technologically advanced, and financially flexible for the next generation of media.
At the top, Mark Lazarus will serve as chief executive officer, while David Novak will serve as chairman. They will be supported by a board that combines experience across media, finance, and technology. Versant will launch with little to no debt, which gives it the freedom to explore acquisitions and expand digitally without being weighed down by legacy obligations.
Digital operations already make up a large share of Versant’s revenue, giving the company a strong base for future scaling. To strengthen its advertising reach, Comcast signed a two-year ad sales partnership that allows NBCUniversal to sell Versant’s inventory through its One Platform system. This partnership gives Versant access to advanced advertising technology, audience targeting tools, and measurement systems that will help its campaigns perform well from the start.
The company’s leadership also reflects its ambitions. Rebecca Campbell, who helped lead Disney’s streaming rollout, and David Eun, a former Google and Samsung executive known for scaling digital businesses, are both members of Versant’s board. Their inclusion shows that Versant is designed to connect entertainment and technology from the very beginning.
Versant’s creation reflects a broader trend in the media industry, in which large companies spin off assets to become more agile. Warner Bros. Discovery was born out of AT&T’s divestiture, and Paramount Global has faced pressure to do the same. Unlike Warner Bros. Discovery, which began burdened by heavy debt and integration problems, Versant is starting with a clean slate. Comcast’s decision to isolate Versant demonstrates a clear understanding that agility is now more valuable than size.
This structure allows NBCUniversal and Peacock to continue focusing on film and television production, while Versant becomes an experimental space for brand-specific innovation. Comcast’s choice signals that the media race is no longer about building the biggest empire. It is now about building the most adaptable one.
Sports may represent Versant’s strongest path forward. With Golf Channel and SportsEngine as its foundations, the company is well positioned to expand into niche and mid-tier sports. These are areas where major players, such as ESPN, Amazon, or Fox, have less dominance. By combining sports rights with the youth sports technology offered by SportsEngine, Versant could build a complete ecosystem that connects community-level participation to professional coverage.
There is also untapped potential in Fandango and Rotten Tomatoes. Both remain well-known names among moviegoers, but under Comcast they were often underused. With independence, these brands could evolve beyond ticketing and reviews, moving into data-driven insights, fan event partnerships, and entertainment financing tools.
At the same time, CNBC’s fintech branch could use its reputation for trust and credibility to launch digital products, such as investing apps, market platforms, or financial wellness services. This would extend the brand’s influence far beyond traditional cable audiences.
Versant’s journey will not be without challenges. The market for sports rights is extremely competitive and prices are high. The company’s decision to avoid building a single streaming service is bold, but risky. While this allows Versant to focus its efforts and maintain financial discipline, it could lose audiences who prefer the convenience of one central platform.
Leadership and company culture may also face growing pains. Mark Lazarus’s long history with NBCUniversal brings valuable experience, but he will need to adapt to leading a younger and faster-moving organization. Without the safety net of large corporate funding, Versant must ensure that each strategic decision delivers real results.
Versant is more than just a new company. It represents a shift in how media companies are structured and how they compete. As giants, such as Disney, Warner Bros. Discovery, and Comcast, confront the limits of massive scale, Versant’s spinout points toward a future built on smaller, smarter, and more flexible organizations. This may foster innovation and responsiveness in an ever-evolving media landscape.
If this strategy succeeds, Versant could become a model for how traditional networks evolve into digital-first, brand-driven enterprises. If it fails, it will stand as a reminder that innovation must be matched with scale and timing.
When Versant officially launches in 2025, the entire media industry will be watching. Many will see it as a test of whether Comcast has truly found the model for the next era of media, or whether this experiment will simply mark the closing chapter of its cable legacy.
