Latest news with #MarkLazarus
Yahoo
08-05-2025
- Business
- Yahoo
NBCUniversal To Handle Sales For Comcast's Cable Spinoff Versant Under Two-Year Agreement
Versant, Comcast's planned cable spin-off entity, has struck a two-year ad sales agreement with corporate cousin NBCUniversal. Under the pact, which will cover the next two upfront cycles, NBCU will handle sales under its One Platform banner. Mark Marshall, NBCU Chairman of Global Advertising and Partnerships, will continue to manage the sales strategy and revenue for his company as well as the assets being spun into Versant. The Versant portfolio includes all of NBCU's cable networks except for Bravo, along with a handful of digital properties. More from Deadline As Debate Over TikTok's Future Continues To Swirl, Company Reassures Advertisers, "We Are Here" Tubi Launches New Ad Capabilities, Including "Wrappers" For Movie Studio Marketers Comcast Spinoff Will Be Called Versant, Mark Lazarus Announces Tom Winiarski, a 30-year industry veteran who has been NBCU's President of Platform Monetization for the past five years, will move to Versant in the newly created role of EVP, Ad Sales Strategy and Monetization. Versant and Comcast are in the process of finalizing the spin, which is expected to be completed by the end of 2025. After Comcast announced the plan last fall, it was expected that other cable network owners could look into participating in it via an M&A transaction but none has yet taken shape. Traditional cable TV is coping with secular decline in viewership and ad revenue, though networks continue to generate significant cash flow. Comcast's goal with the spinoff is to separate cable TV financials from those of the mother ship, which are defined by more vibrant business lines like broadband and live sports. Marshall said the deal will ensure that 'a single, dedicated sales team will represent the companies' collective inventory and drive revenue for all the iconic IP that our viewers love.' Marshall will preside over NBCU's annual upfront presentation to ad buyers at Radio City Music Hall on Monday. 'We're building Versant as a new, modern media company equipped with industry-leading brands across news, sports and entertainment, and the ability to strike the right partnerships to fuel investment and drive revenue,' Versant CEO Mark Lazarus said. 'NBCUniversal operates a best-in-class advertising sales and strategy division, and partnering with Mark Marshall and his team, alongside Tom Winiarski in his new role, will enable Versant to operate seamlessly and with agility from the start.' Best of Deadline Book-To-Movie Adaptations Coming Out In 2025 TV Show Book Adaptations Arriving In 2025 So Far Everything We Know About 'Emily In Paris' Season 5 So Far Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
06-05-2025
- Business
- CNBC
Comcast's cable spinoff to be named Versant, picked to emphasize corporate versatility
Comcast's spinoff of the majority of its NBCUniversal cable network portfolio will be named Versant, the company said Tuesday, ending a months-long process to select a new corporate moniker. The new company chose Versant (pronounced like the root of the word conversant) to emphasize its versatility and its familiarity with multiple subjects, according to Chief Executive Officer Mark Lazarus, who spoke in an interview. Versant, which had been called SpinCo until a permanent name was chosen, will own cable networks including USA, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel. It will also house digital assets Fandango, Rotten Tomatoes, GolfNow, GolfPass and SportsEngine. The rest of Comcast's NBCUniversal portfolio, including the broadcast network, Peacock streaming service, Universal Studios, the theme parks and Bravo, will remain with Comcast. The new name itself isn't meant to be consumer-facing. Lazarus wants Versant to be viewed as a house of brands, with each individual asset interacting with users rather than the corporate holding entity. "We're going to focus on the individual brands that we have, not the corporate name," Lazarus said. "This is a holding company name. It's going to be used for business-to-business purposes." Versant is on track to be spun out from Comcast before the end of 2025, Lazarus confirmed. The assets held by the new company generated about $7 billion in revenue last year. The company's emphasis on versatility is notable given the rapidly changing media ecosystem. Lazarus will need to build a Wall Street growth narrative for investors once the company starts trading publicly. That will include making acquisitions to build on the company's core. Some of those transactions may step outside pure media plays, he said. Lazarus cited Golf Channel's acquisition of GolfNow, a tee-time reservation company, as an example of how the brands can move beyond linear TV and streaming to build profitable businesses. "Most people don't know that GolfNow is even part of our company," Lazarus said. "We are not going to be purely a collection of linear and digital media assets." Mark Lazarus at the NBCUniversal Upfront presentation from Radio City Music Hall in New York City on Monday, May 13, 2024. For a brand such as CNBC, that may include acquiring personal finance or fintech platforms, Lazarus said. For MSNBC, Lazarus said he's already had some preliminary conversations about potentially buying podcasts that cater to Democrats. He noted if he were to make such an acquisition, the plan wouldn't be to put that programming on air for MSNBC, but to have it operate as a separate business unit using the cable network as a marketing funnel. Versant will not launch its own streaming service, Lazarus said. It will instead rely on brands to develop their own digital strategies. About 20% of the company's revenue is already digital in nature, Lazarus said. Versant is also likely to return money to shareholders via a dividend, CNBC reported in November. One strategy the company isn't likely to pursue is to acquire a group of cable networks. Lazarus said he has little interest in accumulating more debt attached to low-growth assets. If a cable network also had associated businesses that had better growth prospects, that could be more appealing on a case-by-case basis, he said. Versant is also unlikely to acquire TV station groups in the current regulatory environment, Lazarus said. Federal Communications Commission Brendan Carr told CNBC's Sara Eisen Monday that national news media companies including NBC are "exercising more and more control" on local TV stations, which he said was not "a good thing for the country." Comcast relied on marketing employees from each of SpinCo's brands to help decide on a name. Meetings began in late December, according to people familiar with the process. After a few weeks, the company had more than 1,000 potential names. Employees were told to focus on names that drew upon New York, cable TV or passing references to 30 Rockefeller Center, NBCUniversal's headquarters, said the people. The names were then filtered for legal and trademark infringement issues and other potential problems, such as a word's definition in various languages. Comcast also hired three marketing agencies to help generate names and cull the list. Lawyers passed through just 43 of the initial names, Lazarus said. That list was shortened to about a dozen finalists, which were then each presented to the deciding committee. Lazarus and his marketing team chose Versant in the past few weeks. The word means "a region of land sloping in one general direction," according to some references. Lazarus joked that an uphill slope reminded him of "a rising stock price." Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC under the proposed spinoff.
Yahoo
15-03-2025
- Entertainment
- Yahoo
MSNBC bigwigs leaked layoffs plan in stunning gaffe — and staffer found grim ‘kill list' morning of bloodbath
Bungling MSNBC bigwigs accidentally printed out details about the left-leaning network's impending jobs bloodbath — and the top-secret document was found by a stunned staffer who leaked the details to co-workers, The Post has production assistant stumbled across the 'kill list' at MSNBC's 30 Rock headquarters in midtown Manhattan shortly before the cuts were announced on Monday, Feb 24, sources close to the situation said. The printed pages, which were viewed by The Post, laid out meetings to be held with workers and 'talent' about their fate in ominously-dubbed 'impact conversations,' the insiders said. 'On the Monday, management accidentally printed the list of people and teams getting fired or being made to reapply for their roles.' said one source close to the situation. 'Entire teams in primetime learned that they were getting fired from a printout that a PA found sitting on a printer.' The screwup is the latest episode in MSNBC's botched layoffs plans after Trump-bashing anchor Joy Reid and her staff learned they were about to be fired from a New York Times report on Sunday, Feb. 23. The intended confidential memo reveals a callous play-by-play beginning Feb. 19 and leading up to the Feb. 24 massacre in which about 100 people were canned. It includes a legal review with human resources, a talking-points script on the cuts and a scheduled pow-wow between NBCUniversal chair Mark Lazarus and NBC News Group chairman Cesar Conde. MSNBC president Rebecca Kutler was also slated to discuss show cancellations, time changes and new job placements, according to the document. MSNBC declined to comment. On Feb. 24, the ratings-challenged network ended up firing staffers on 'The Rachel Maddow Show,' and canceling programs hosted by Alex Wagner, Katie Phang, Jonathan Capehart, Ayman Mohyeldin and José Díaz-Balart. The document revealed a packed day of back-to-back meetings with the above talent, in addition to others including on-air talking heads Alex Witt, Ana Cabrera, Jen Psaki and Richard Lui — who was referred to as 'Tier 3 talent' despite having received Peabody and Emmy Awards during his time at CNN. By the end of the day, MSNBC had posted 100 new jobs, and according to the document, the network intends to make all its new hires by April 7 and get them to start by April 14. One network insider lashed out at the 'absolute humiliation' of some staffers being asked to re-apply for their own positions. Another brushed off the notion that employees might find new jobs at the embattled cable network. 'NBC and MSNBC always say employees can reapply for jobs after they're laid off,' the person said. 'For [MSNBC] lifers, it's difficult because there are generally fewer postings for senior jobs.' The overhaul is part of a plan by MSNBC parent Comcast to spin off the beleaguered left-wing network and other distressed cable properties. Lazarus will head up the new entity, dubbed SpinCo. Kutler, who was named interim president after Rashida Jones stepped down earlier this year and then had that label lifted last month, has been widely seen as an architect behind the remaking of the network. 'She was dealt a tough hand in essentially having to build out a new company with all of the changes,' said a network source. 'She has had a rough start.' One source said employees were caught off-guard by Monday's mass culling after the New York Times reported a day earlier that Reid, host of the 'ReidOut,' would be fired. 'Everyone thought the cuts were only affecting 'ReidOut' and a couple of other shows,' one source said. Network star Rachel Maddow blasted her bosses on air for the changes – especially their decision to fire Reid – in what has been described by sources as a 'polarizing' move. 'Management was pissed and talent was like, 'relax Rachel'' said a source close to the situation. While the dustup put the powerful anchor in the spotlight, others wondered if it also made her more vulnerable. 'Rachel made this big play to try and protect Joy, but then Rebecca fired her anyway,' the source told The Post.
Yahoo
28-02-2025
- Business
- Yahoo
MSNBC to Remain in New York After SpinCo Spin-Off
Earlier this week, MSNBC announced a programming shakeup of its weekday and weekend schedules set to take effect in April. These on-air changes, which were accompanied by layoffs, come as the network is on the hunt for new office, production, and studio space. Both MSNBC and CNBC are set to separate from the NBCUniversal News Group within the next few months and join SpinCo, the spin-off company that will house many of NBCUniversal's cable assets. SpinCo CEO Mark Lazarus recently updated employees on the media entity's separation plans from NBCUniversal, confirming that MSNBC will continue to be based in Manhattan. Meanwhile, CNBC will continue to call its longtime Englewood Cliffs location home, and will also serve as SpinCo's technical operations hub. Some of MSNBC's technical staff will also be based in New Jersey. Both networks now have to rebuild their newsgathering operations, including in Washington, D.C. Lazarus noted CNBC and MSNBC will secure dedicated space at 400 North Capitol-the same building as NBC News operations. The two news networks will additionally continue to keep office space in the various cities where they operate. One exception is Miami, where MSNBC's programming changes means that the network will lose access to NBC News' production facility. New York-based staffers were also alerted that they have to work out of temporary facilities in Manhattan if the NBC News spin-off is completed before their office space is built. It's been reported that a new name for the spun-off company could be soon announced, but no firm date has been provided as to when that will be revealed. MSNBC has been through a number of changes since the SpinCo announcement, including the departure of former network head Rashida Jones, the appointment of current president, Rebecca Kutler, and Joy Reid's recent exit. Additional changes are likely on the horizon as it steps away from NBC News' shadow.
Yahoo
12-02-2025
- Business
- Yahoo
MSNBC's Rebecca Kutler Takes Over as President
As it looks to a new era spun off from Comcast and as the second Trump administration begins, MSNBC has formalized hiring its top leader. Rebecca Kutler, who held the title of interim president at the cable news channel, was officially promoted on Wednesday, top executive Mark Lazarus told employees. Kutler will formally succeed Rashida Jones, who served as MSNBC's chief from 2021-2024 during the Biden presidency. More from The Hollywood Reporter Joe Scarborough Wants to Talk About More Than Just Politics MSNBC, CNN Halt Post-Election Swoons, But Fox News Stays Way Out in Front in January MSNBC's Project 2025: Rebuilding Itself In the Trump Era 'Over the past two years, I have had the privilege of learning how all of you do what you do so well, and you've been doing it for 28 years, and you've built something truly incredible. MSNBC is now one of the most engaged brands in all of television,' Kutler wrote in a statement to staff. 'We ended 2024 as number one in cable news on both YouTube and TikTok. That is a credit to everyone on this call and everyone who has built this brand into what it has become over the last 28 years.' The exec added, 'My goal over the years ahead is to build on that success. Especially over the next year, this is going to be a really exciting time but also a challenging time. I think it's important that we as leaders are honest about that and about the challenges ahead. Our jobs are hard on a normal day, and these are not normal times.' Kutler joined the cable news outlet in 2022 after a 12-year tenure at CNN during the Jeff Zucker-led era, where she rose from executive producer on shows like Inside Politics with John King to senior vice president. The exec's last role at CNN was programming chief for CNN+, the short-lived streaming service that briefly launched amid a strategic pivot and ownership transition from AT&T to Warner Bros. Discovery. MSNBC, too, will be transitioning from being part of Comcast's NBCUniversal division to a standalone company, tentatively titled SpinCo, that is expected to be publicly traded by the end of this year. Making the move to SpinCo alongside MSNBC will be fellow cable channels USA Network, Syfy and CNBC. The move will formally separate the cable channels from NBC News, which has shared resources with MSNBC and CNBC for years, and into a much smaller company with a focus on cable assets in genre-based entertainment, sports and news. It will also allow MSNBC to chart its own future in the streaming space apart from the Comcast fold, where it has been kept as one of the few programmers that is not available to watch online outside of the pay TV bundle. ('98 percent of the viewing on Peacock does not include the spun networks. So they need their own direct-to-consumer digital initiatives and focus and investment,' Comcast CEO Brian Roberts said on a Jan. 30 earnings call.) SpinCo will be led by longtime NBCU exec Mark Lazarus as CEO along with Anand Kini as CFO and Val Boreland as president of entertainment for the new venture. 'We have a new company, we have new leadership, we will have new offices, and we have a non-stop news cycle,' Kutler stated. 'I think it's important that we all share in the exciting parts of what the year ahead is going to mean in terms of getting to build a new news organization – one that is built for us, for our needs first, to be part of a new company that is standing itself up, and that we have a seat at the table at the ground floor of that, and what that's going to look like and we get to help determine that. It's going to be hard, but it's also going to be exciting and interesting and a really important time to do what all of us do.' MSNBC has kicked off the Trump era by returning the face of its network, Rachel Maddow, to hosting nightly during the 9 p.m. hour Monday-Friday during the busy first 100 days of the new administration. The full memo from Lazarus is below: Team, Today, I am officially naming Rebecca Kutler President of MSNBC. In the short time that Rebecca was the interim president, it became clear to me that she has the big-picture strategic view and the right leadership skills to ensure MSNBC delivers on its brand promise and is positioned for growth during a time of industry change. Since joining the network, Rebecca has played a pivotal role in the development of many of the network's recent program launches, has been a driving force behind MSNBC's nonlinear growth and strategic investments, and has introduced new and innovative audience-focused products. By constructing a first-rate newsgathering operation and assessing what's required to be competitive in the marketplace, Rebecca and the team will ensure that MSNBC continues to be indispensable to our audiences and our partners. This is an exciting moment as we build our new company's operation, and it has been a pleasure working with Rebecca over the last few months. I am thrilled to have such a respected leader at the helm of MSNBC during such a pivotal moment. As we've all witnessed – and lived – in recent weeks, the news cycle has been nonstop, and MSNBC's coverage has stood out for its depth, focus, and thoughtfulness. Thanks to this team's hard work, viewers, readers, and listeners are reengaging at significant levels across the board. Thank you for all that you do and please join me in congratulating Rebecca on this well-deserved appointment. 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