Comcast’s CFO Highlights Versant’s Growth Potential Amid TV Industry Shifts

Philadelphia, PA — Comcast CFO Jason Armstrong spoke at the MoffettNathanson Media, Internet & Communications Conference on Thursday, highlighting the potential benefits of the company’s upcoming cable TV spinoff, Versant. Set to be completed in late 2025, Versant will hold several of Comcast’s cable assets, including USA Network, Syfy, MSNBC, and CNBC.

Armstrong emphasized that Versant will benefit from a strong leadership team and ample cash flow, allowing it to explore new digital opportunities. “For Versant, their opportunity is going to be a well-capitalized company, a very strong management team, a lot of free cash flow,” he stated.

The establishment of SpinCo, as the spinoff is being referred to, is seen as a way to unlock shareholder value by consolidating underperforming NBCU cable channels. “They’re going to have a lot of options,” Armstrong claimed, referring to the flexibility and resources available to the new venture.

In addition to discussing Versant, Armstrong touched on the performance of Peacock, Comcast’s streaming service, which reported a significant reduction in loss during the first quarter of 2025, dropping to $215 million from a loss of $639 million the previous year. “Peacock will be well positioned,” he noted, indicating the service’s rapid growth.

Peacock has garnered 41 million subscribers as of March 2025, up from 36 million at the end of 2024. Armstrong suggested that the addition of NFL content could further enhance Peacock’s appeal, making it more competitive against other sports streaming packages.

On another note, Armstrong mentioned Universal‘s new theme park, Epic Universe, set to open in Orlando next week, describing it as “the biggest new park to be launched in the last 30 years.” He expressed optimism about the park’s potential success despite general economic concerns. “We haven’t seen any negative impact on advance booking trends,” he stated, assuring stakeholders that consumers are still eager to visit theme parks.