Comcast’s NBC Universal will continue to sell advertising inventory against cable channels like MSNBC, CNBC, USA Network and E! when those products are spun out from its business later this year.
The partnership between NBC Universal and Versant, the company formerly known as “SpinCo,” will allow the latter to take advantage of an established ad selling partner in the broadcast and cable TV space while it develops its own business practices.
The pact between NBC Universal and Versant will last for at least two years. Tom Winiarski, NBC Universal’s President of Platform Monetization, will move to Versant as part of the deal. NBC Universal Global Advertising and Partnerships Chairman Mark Marshall will manage sales and revenue strategies for both companies, but will remain at Comcast.
The partnership between NBC Universal and Versant is the first indication that Comcast’s decision to split its cable networks business might not be the clean break that some suggested.
Instead, it is likely a strategy intended to allow Comcast to experience the upsides associated with the business of linear television, without having to report any of the financial downsides on paper.
Versant — which is still looking for a headquarters and more full-time staff, and currently operates with a skeleton team from temporary offices affectionately nicknamed “summer camp” — will consist of MSNBC, CNBC, E!, USA Network, SyFy and Golf Channel, as well as digital properties like Fandango and Rotten Tomatoes that Comcast has developed or acquired over the years.
Versant won’t include Bravo — which will remain part of NBC Universal, as its reality-based shows are among those watched the most on the streaming platform Peacock — nor will it include the NBC network, NBC News or NBC Sports.
Comcast Chairman and CEO Brian Roberts will maintain economic and voting interest in Versant, but will not serve in an executive role, according to a report published by CNBC last year.
Mark Lazarus will serve as the CEO of Versant, and Anand Kini is the company’s Chief Financial Officer.
