05:29 PM EST, 12/03/2025 (MT Newswires) -- Comcast ( CMCSA ) reported Wednesday its board has approved the planned separation of its portfolio of cable television networks and digital platforms into a standalone company, Versant Media.

The spin-off will occur through a pro rata distribution of Versant shares to Comcast ( CMCSA ) shareholders.

Shareholders will receive one Versant share for every 25 Comcast ( CMCSA ) shares held as of the December 16 record date. The distribution date is scheduled for Jan. 2.

The entertainment conglomerate expects "when-issued" trading for Versant Class A shares to begin around Dec. 15, under the symbol "VSNTV," while "regular-way" trading for Class A shares is set to begin on Jan. 5 next year.

After the distribution, Versant will operate as a fully independent company listed on Nasdaq as "VSNT."