Shares of Versant Media Group , home to channels such as USA Network and CNBC, slumped more than 10% in its market debut after its spinoff from Comcast, underscoring investor skepticism around traditional TV businesses in the streaming era.

CNBC's parent, Versant, went public Monday following its separation from Comcast.

The final separation of Comcast and Versant took place after Friday’s close, completing a carve out first announced in November 2024.

The early ratings for Versant are in — with shares of the new owner of cable television stalwarts like CNBC, USA Network and the recently rebranded MS NOW (formerly MSNBC) tumbling 13% on their first day of trading.

Key Takeaways Versant shares tumbled in their first day of trading on Monday.The group of cable channels and digital properties was spun off from Comcast last year, and includes CNBC, MS NOW and the USA Network.

Versant, Comcast's spinoff of the majority of NBCUniversal's cable TV networks like MS Now and CNBC, started trading Monday.