We won’t have SpinCo to kick around any longer.
The name of the parent company for the cable networks and other assorted media assets that will be spun off from NBCUniversal and Comcast later this year will be Versant Media. Mark Lazarus, CEO of the new company, announced the name to staffers in a memo on Tuesday,
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“We would be foolish to expect everyone to love the name of our new company immediately. There were certainly some others that we could have gotten behind, but after sitting with VERSANT for a couple of weeks now, I believe it will suit us well, evoke a sense of energy, and underscore our role in driving progress,” Lazarus said.
Versant (pronounced like “conversant”) will house TV networks including MSNBC, CNBC, USA and E! along with other media properties. There is an expectation that Versant will seek to build upon its portfolio by acquiring other properties. Comcast spun off the assets in a bid to focus NBC on broadcast and streaming, while giving the rest of its media assets a chance to eke out a new existence.
Executives have been working on devising a name for the new company since December. The name was meant to evoke the future strength and forward movement, and the company hired three different branding agencies and narrowed a list down to 12 names, then three.
“There were many considerations for a suitable name,” Lazarus said. “Our internal team of incredibly skilled and experienced brand marketers, designers and media tacticians took into account our overarching goal to influence culture, connect communities and signify a unified direction forward.”
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