Comcast completes spin-off of Versant
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As a standalone company, we enter the market with the scale, strategy and leadership to grow and evolve our business model,” says CEO Mark Lazarus.
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Versant Shares Dip On Day One As Comcast Spinoff Settles Into NYC Headquarters, Looks To Future
Shares of the newly public Versant Media fell on the first day of trading as an independent public company, closing down 13% at $40.57.
The spinoff is Comcast's response to shifting market dynamics in the media industry, as streaming pressures traditional cable TV viewership.
The company, which houses USA Network, MS Now, CNBC and more, begins trading on the Nasdaq under the ticker symbol VSNT starting Monday
About This EventVERSANT Media (Nasdaq: VSNT), an independent media company comprising entertainment, news, sports and digital platforms, begins trading on Nasdaq today as an independent company following completion of Comcast spin-off.
Comcast's broadband and video headwinds are largely offset by growth in wireless, business customers, and theme parks. Read why CMCSA stock is a Strong Buy.