COMCAST CORP 8-K

What Happened

• Comcast announced the completion of the previously‑announced separation of Versant Media Group, Inc. The separation became effective at 11:59 p.m. Eastern Time on January 2, 2026.
• Comcast distributed 100% of Versant Class A and Class B common stock to Comcast shareholders of record as of December 16, 2025. Holders received one share of Versant Class A or Class B common stock for every 25 shares of Comcast Class A or Class B common stock, respectively.
• Versant is now an independent, publicly traded company (Comcast retains no ownership). Versant Class A common stock will commence regular way trading on Nasdaq under the ticker "VSNT". Fractional Versant Class A shares were not issued; fractional entitlements were aggregated, sold on the open market, and holders will receive cash for their fractional share pro rata.

Key Details

• Record date for distribution: December 16, 2025.
• Effective separation time: January 2, 2026 at 11:59 p.m. ET.
• Distribution ratio: 1 Versant share per 25 Comcast shares (Class A and B matched).
• Fractional share handling: no fractional shares delivered; aggregated and sold with cash paid to holders.

Why It Matters

• Comcast no longer owns Versant, so Versant’s results and assets will be reported separately going forward rather than consolidated with Comcast. That can affect Comcast’s future reported revenues, earnings and balance sheet composition.
• Comcast shareholders directly received new Versant shares (or cash for fractional interests) and will now hold shares in two separate public companies: Comcast and VSNT (Versant). Investors should expect separate trading, valuation and disclosure for Versant and monitor each company’s filings for ongoing financial impact.