Comcast’s Board Approves Separation of Versant Media Group, Inc.

About this update from Comcast Corporation

[{"type":"text","content":" PHILADELPHIA--(BUSINESS WIRE)--\nComcast Corporation (NASDAQ: CMCSA) today announced that its Board of Directors (the “Board”) has approved the previously announced separation of a strong portfolio of cable television networks and complementary digital platforms from its remaining businesses, and the creation of an independent, publicly traded company named Versant Media Group, Inc. (“Versant”).\n\nThe separation will be achieved through a pro rata distribution of 100% of the outstanding shares of Versant Class A common stock and Versant Class B common stock to the holders of Comcast Class A common stock and Comcast Class B common stock. Comcast shareholders will receive one share of Versant Class A common stock or Versant Class B common stock for every 25 shares of Comcast Class A common stock or Comcast Class B common stock, respectively, held at the close of business on the record date of December 16, 2025 (the “record date”). The distribution of Versant shares is expected to be completed after the close of trading on Nasdaq on January 2, 2026 (the “distribution date”).\n\nThe holders of Comcast Class A common stock entitled to receive the distribution will receive a book-entry account statement or a credit to their brokerage account reflecting their ownership of Versant Class A common stock. No action is required by Comcast shareholders to receive Versant shares in the distribution.\n\nFractional shares of Versant common stock will not be distributed. Any fractional share of Versant Class A common stock otherwise issuable to a holder of Comcast Class A common stock will be sold in the open market on such shareholder’s behalf, and such holder will receive a cash payment for the fractional share based on its pro rata portion of the net cash proceeds from all sales of fractional shares.\n\nPrior to the distribution, Comcast expects to deliver an information statement to all shareholders entitled to receive the distribution. The information statement will describe Versant, including the risks of owning Versant common stock and other details regarding the separation.\n\nThe completion of the distribution is subject to a number of customary conditions, including that no event or development will have occurred or exist that, in the judgment of the Board, in its sole discretion, makes it inadvisable to effect the distribution. Comc...

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