Versant, the cable TV-focused spinoff from NBCUniversal that runs CNBC, MS NOW, USA, Golf Channel and other assets, reported lower second earnings on lower revenue and public company costs from its Comcast separation.
Now solo Versant reported revenue for the quarter to June 30 at $1.64 billion, down 3.8 percent from $1.7 billion in the same period of 2025. In that revenue mix, linear distribution was down 6.3 percent to $954 million, as Versant continues to rely on a declining pay TV business.
Advertising revenue at $423 million was down just under 1 percent from the year-earlier period when ad revenue dropped 13 percent. Platforms revenue grew 0.8 percent to $212 million, and content licensing revenue was unchanged at $43 million.
Net income attributable to Versant was down 30 percent at $211 million due to lower overall revenues and one-time costs following the separation from Comcast, including higher tax expenses after the divestiture of SportsEngine. The adjusted EBITDA fell 9 percent to $624 million.
Versant, as it looks to diversify away from traditional pay TV channels to focus more on streaming TV platforms and digital business lines, said it was raising both revenues and EBITDA guidance for the second half of the year. The full-year outlook for 2026 will see total revenue of between $6.2 billion and $6.45 billion, while the adjusted EBITDA will come in between $1.9 billion and $2.05 billion.
“Versant’s brands once again demonstrated strength, durability and scale, reaching more than 120 million viewers each month during the quarter while reinforcing our leadership across news, sports and entertainment,” said Mark Lazarus, Versant CEO, said in a statement ahead of a morning analyst call to also include CFO and COO Anand Kini.
