Comcast Splits Off Cable Networks as Linear TV Declines

Comcast is spinning off Versant, a publicly traded company holding NBCUniversal's cable networks, before 2027. The move isolates a shrinking business—subscribers eroding, ad rates compressing—from faster-growing broadband and theme parks. Each company carries its own debt. How much Versant can borrow signals whether Comcast thinks the decline is manageable or terminal.