Comcast Board approves spin-off of cable networks into Versant Media Group; distribution ratio 1:25

COMCAST CORP

Board approved separation of cable TV networks and digital platforms into Versant Media Group via pro rata distribution.
Each Comcast Class A or Class B shareholder receives 1 Versant share for every 25 Comcast shares held as of Dec 16, 2025 record date.
Distribution expected after close Jan 2, 2026; Versant shares to trade on Nasdaq under symbol VSNT (when-issued VSNTV starting Dec 15).
Comcast will retain no ownership stake in Versant post-separation; fractional shares sold for cash.
Separation qualifies as tax-free to Comcast and shareholders except for cash received in lieu of fractional shares.

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