Comcast spinoff Versant tumbles 13% in Nasdaq…
Shares of Versant Media Group, home to channels such as USA Network and CNBC, slumped more than 13% in its market debut after its spinoff from Comcast, underscoring investor skepticism around conventional TV companies in the streaming period.
Shares of Comcast rose about 1% on Monday.
The spinoff is Comcast’s response to shifting market dynamics in the media industry, as streaming pressures conventional cable TV viewership, prompting media corporations to rethink their possession of legacy networks.
Versant homes the NBCUniversal portfolio of networks, which…
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