TLDR
- Versant Media Group reported 2025 profit of $930 million, down from $1.36 billion the prior year
- Full-year revenue fell 5.3% to $6.69 billion, though this beat analyst expectations of $6.64 billion
- A $1 billion share buyback was announced alongside the earnings report
- Q4 revenue dropped nearly 7% to $1.61 billion, beating estimates of $1.57 billion
- VSNT stock rose nearly 3% in early trading following the results
Versant Media Group posted its first full-year results as a standalone company on Tuesday, showing declines across most of its core businesses but beating Wall Street expectations on revenue.
Versant Media Group, Inc. Class A, VSNT
The company, spun off from Comcast earlier this year, reported 2025 profit of $930 million. That compares to $1.36 billion the year before.
Full-year revenue came in at $6.69 billion, a 5.3% drop from the prior year. Analysts had expected $6.64 billion, so the result came in slightly ahead.
Linear-distribution revenue fell during the year. Advertising and content-licensing revenue also declined.
The one bright spot on the top line was platforms revenue, which rose 3.9% to $826 million.
Q4 revenue dropped nearly 7% to $1.61 billion. Analysts had penciled in $1.57 billion, so Versant cleared that bar too.
VSNT stock was up close to 3% in early trading. Earlier premarket data had shown the stock up 5.4% to $34.50.
The stock has dropped about 20% since its market debut in January. Comcast spun off the business to reduce exposure to assets steadily losing viewers and advertisers to streaming platforms.
CEO Mark Lazarus said roughly 60% of Versant’s audience comes from news and sports. He pointed to programming investment and platform growth as reasons for confidence heading into 2026.
CFO Anand Kini cited strong profitability, margins and cash flow as proof of the business’s durability, even with the top-line pressure.
Buyback and New Initiatives
Alongside the results, Versant announced a $1 billion share buyback program.
The company is planning a CNBC subscription service aimed at retail investors. Fandango, its movie-ticketing platform, is also set to launch a free, ad-supported streaming service later this year using content from Versant’s library.
2026 Outlook
Versant guided for 2026 revenue between $6.15 billion and $6.4 billion. The midpoint of that range sits below the current analyst consensus of $6.34 billion.
The company houses cable networks including CNBC, USA Network, Syfy, Golf Channel, Oxygen and E!, along with digital properties Fandango, Rotten Tomatoes and GolfNow.
Versant guided for 2026 revenue of $6.15 billion to $6.4 billion, straddling the analyst estimate of $6.34 billion.
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