VERSANT MEDIA GROUP INC · Q1 2026 earnings

Briefing

VERSANT MEDIA GROUP INC reported Q1 2026 revenue of $1.69 billion and net income of $286 million following its separation from Comcast.

Versant Media Group, Inc. completed its separation from Comcast on January 2, 2026 and began trading as a standalone public company. For the first quarter of 2026, the company generated revenue of $1.687 billion, down 1.1% year-over-year, with net income attributable to Versant of $286 million. Operating income declined to $442 million amid higher standalone public company costs and interest expense on $3.0 billion of new debt.

• Revenue declined 1.1% to $1.687 billion, driven by lower linear distribution and advertising revenue partially offset by platforms and content licensing growth.
• Net income fell 22% to $286 million as operating income dropped and the company incurred $52 million in interest expense post-separation.
• Operating cash flow rose to $585 million while free cash flow reached $558 million after $27 million in capital expenditures.
• The company maintains a strong balance sheet with $1.193 billion in cash and $12.5 billion in total assets following the $3.0 billion debt issuance at separation.

Headline financials

Revenue & EPS history

Management expects continued subscriber declines in linear distribution and ratings pressure on advertising, offset by growth in digital platforms and content licensing.