Versant has set a raft of initiatives as it’s set to separate from parent Comcast in early 2026, unveiling plans for a direct-to-consumer offering for newly renamed MS Now ; a Fandango free ad-supported streaming offering, and acquisitions of Free TV Networks and Indy Cinema Group .

The news comes at the top of the company’s first ever investor day in NYC.

Versant said it expects to generate $6.6 billion in revenue, $2.2 billion in EBITDA (earnings before interest, taxes, depreciation and amortization) and $1.4 billion in free cash flow for 2025. It will debut with $3 billion in gross debt, $750 million in cash and $1.5 billion in total liquidity.

The company primarily houses the NBCUniversal cable networks (save Bravo) but said it’s “laser focused” on moving beyond pay TV, which

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