In its first earnings report as a stand-alone company, new Comcast
cable TV network spinoff Versant Media Group reported an 8.9% decline to $1.58 billion for 2025.
The company, which includes the networks CNBC, MS Now, USA Network, Syfy, Golf Channel, E!
and Oxygen, also posted a 5.4% drop in linear distribution revenues to $4.1 billion.
Total revenue fell 5.3% to $6.7 billion, with net income attributable to the company showing a steep 32%
decline to $930 million.
Adjusted cash flow -- earnings before interest, taxes, depreciation and amortization -- fell 15% to $2.4 billion.
Versant Media Group officially completed its
spinoff of Comcast Corp. on January 2. The company also owns digital platform assets including Fandango, Rotten Tomatoes, GolfNow, GolfPass, and SportsEngine.
Comcast's intent in the move was
to allow its higher-growth networks and platforms NBC Television Networks, owned TV stations, streamer Peacock, Universal theme parks, and cable network Bravo to see more rapid growth from the slower
financial growth of cable TV networks.
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The company declared a 37.5 cent dividend with the earnings release. Because of what it referred to as its low debt load and high-margin businesses,
Versant executives have said they plan to return value to shareholders.
Early Tuesday trading of Versant was up 2.3% to $33.50.