On Tuesday, we finally learned what Comcast/NBCUniversal’s cable spinoff will be called. Now, we’re learning more about how the arrangement will look.
The new company, which will be named Versant and include most of NBC’s current cable assets, including USA and Golf Channel, will reportedly have a two-year partnership with NBCUniversal. The original entity will sell advertising for the spinoff company. According to Brian Steinberg in Variety, NBC will handle the next two “upfront” cycles (the period in which TV networks sell most of their advertising) for Versant.
“By entering into this partnership with Versant, we’re maintaining that simplicity for our partners and ensuring a single, dedicated sales team will represent the companies’ collective inventory and drive revenue for all the iconic IP that our viewers love,” NBCUniversal chairman of global advertising and partnerships Mark Marshall said in a statement, per Variety.
Wednesday’s report also reaffirms that sports properties that reached prior agreements with NBC that included a cable component are expected to continue in the same manner as before. That will impact properties like the PGA Tour, for instance, which has inventory spread between NBC’s broadcast channel and the Golf Channel cable network set to be spun off.
It’s unclear whether NBCUniversal will continue to sell ads for Versant after the two-year pact is up. The company has similar ad sales agreements with outside companies like Apple News, so there is precedent for selling advertising on behalf of outside companies.