MSNBC, one of America’s most prominent cable news networks, is currently owned by NBCUniversal Media, LLC, which is a wholly-owned subsidiary of Comcast Corporation. However, the ownership structure of MSNBC is undergoing a significant transformation in 2025 as part of a major corporate restructuring that will fundamentally change how the network operates.
Current Ownership Structure
Comcast Corporation
Comcast Corporation (NASDAQ: CMCSA) serves as the ultimate parent company of MSNBC. Comcast is a multinational telecommunications and media conglomerate based in Philadelphia, Pennsylvania, that has grown to become one of the largest media companies in the world. The company has held complete control over NBCUniversal since 2013, when it acquired the remaining 49% stake from General Electric.
NBCUniversal Media Group
Within Comcast’s corporate structure, MSNBC operates under NBCUniversal Media, LLC, specifically through the NBCUniversal News Group division. NBCUniversal is headquartered at 30 Rockefeller Plaza in Manhattan and encompasses a vast portfolio of media properties including the NBC broadcast network, Universal Pictures, and numerous cable channels.
Historical Development of MSNBC Ownership
The Microsoft Partnership Era (1996-2005)
MSNBC was originally launched on July 15, 1996, as a joint venture between NBC News and Microsoft Corporation. The name “MSNBC” itself represents a portmanteau of MSN (Microsoft Network) and NBC (National Broadcasting Company). This partnership was groundbreaking at the time, combining NBC’s broadcasting expertise with Microsoft’s technological capabilities and vision for digital news delivery.
Microsoft invested approximately $220 million in the venture and used MSNBC.com to experiment with new information distribution networks. The technology giant’s involvement reflected the mid-1990s optimism about the convergence of traditional media and emerging internet technologies.
NBC’s Acquisition of Full Control
The partnership began to evolve in the early 2000s as both companies’ strategic priorities shifted. Microsoft, primarily a software company, became increasingly wary of being involved in the television content business. Meanwhile, NBC was frustrated with MSNBC’s ratings performance and sought more flexibility to experiment with the format without the constraints of the Microsoft partnership.
In 2005, NBC acquired Microsoft’s stake in the MSNBC television network, giving NBC full control over the cable channel. However, the companies maintained their partnership regarding MSNBC.com until 2012, when Microsoft also divested its stake in the website. The website was subsequently rebranded as NBCNews.com to better align with NBC News, while MSNBC.com became focused specifically on the cable channel’s opinion content.
The 2025 Transformation: Versant Spinoff
Comcast’s Strategic Decision
In November 2024, Comcast announced a transformative decision to spin off most of its cable television networks, including MSNBC, into a new publicly traded company. This strategic move reflects the broader challenges facing the cable television industry, including declining viewership due to cord-cutting and the rise of streaming platforms.
The spinoff is structured as a tax-free distribution to current Comcast shareholders and is expected to take approximately one year to complete. According to Comcast President Mike Cavanagh, the new entity is designed to be “a new, well-capitalized company owned by our shareholders and comprised of our strong portfolio of cable networks”.
Versant Media Group Formation
The new company has been named Versant Media Group, emphasizing corporate versatility and adaptability. Versant will include not only MSNBC but also other NBCUniversal cable networks such as CNBC, USA Network, Oxygen, E!, SYFY, and Golf Channel. The company will also encompass digital assets including Fandango, Rotten Tomatoes, GolfNow, and Sports Engine.
Mark Lazarus, former Chairman of NBCUniversal Media Group, has been appointed as the founding CEO of Versant. David Novak, a longtime Comcast board member and former CEO of Yum! Brands, will serve as Chairman of the new company’s board.
MSNBC’s Rebranding to MS NOW
As part of the transition to Versant ownership, MSNBC announced in August 2025 that it would rebrand itself as “MS NOW,” which stands for “My Source News Opinion World”. This name change reflects the network’s separation from NBC News and its establishment as an independent news organization.
The rebranding includes dropping the iconic NBC peacock logo, as NBCUniversal has decided to retain that symbol within the NBCU family. MSNBC President Rebecca Kutler emphasized that while the name will change, the network’s editorial direction and mission will remain unchanged.
Financial Performance and Market Position
Revenue and Viewership Statistics
MSNBC has demonstrated strong financial performance within the cable news landscape. According to recent data, the network generated approximately $903 million in revenue, though this represents an 8% decrease from the previous year’s $977 million. Despite this decline, MSNBC has maintained its position as a significant player in the cable news market.
In terms of viewership, MSNBC averaged 1.3 million viewers in primetime and 807,000 viewers in total day programming in 2024, representing increases of 4% and 2% respectively from the previous year. The network finished 2024 as the second-ranked cable network overall, ahead of CNN, ESPN, and Hallmark.
Audience Demographics
MSNBC’s audience demographics reveal important characteristics about its viewer base. The network’s median viewer age is 71 years old, making it the oldest among cable news networks. This compares to CNN’s median age of 67 and Fox News’s median age of 68. This demographic profile reflects broader trends in cable news consumption, where younger audiences increasingly turn to digital platforms and streaming services for news content.
Digital Performance
The network has also invested heavily in digital expansion. MSNBC has become the number one cable news brand on TikTok and YouTube, surpassing six billion views across YouTube, Instagram, TikTok, and X in 2024, representing a 109% year-over-year increase. The network’s “How to Win 2024” podcast achieved over two million downloads, growing more than four times its size since its 2023 launch.
Competitive Landscape and Industry Context
Cable News Market Dynamics
The cable news industry operates in a highly competitive environment dominated by three major players: Fox News, CNN, and MSNBC. Fox News maintains the largest market share with $3.04 billion in revenue, while CNN generates approximately $1.1 billion, and MSNBC approximately $903 million. This competitive dynamic has intensified as traditional cable television faces pressure from streaming services and changing viewer habits.
Cord-Cutting Challenges
The entire cable television industry, including news networks, faces significant challenges from cord-cutting trends. Traditional cable subscriptions have declined substantially as consumers shift to streaming platforms and digital news sources. This trend has prompted media companies like Comcast to restructure their operations to adapt to changing market conditions.
Leadership and Management Structure
Current Leadership Under Versant
Mark Lazarus brings extensive media industry experience to his role as Versant CEO. His background includes previous positions as President of Turner Entertainment Group from 2003-2008 and President of Media and Marketing at CSE. At NBCUniversal, he oversaw major sports partnerships including deals with the Olympics, NFL, NASCAR, and Premier League.
Rebecca Kutler serves as President of MSNBC, having been appointed to the position in February 2025 after acting as interim president. Under her leadership, the network is building its own independent newsgathering operation separate from NBC News.
Versant Board Composition
The Versant board of directors includes diverse talent from media, technology, and finance sectors. In addition to Chairman David Novak and CEO Mark Lazarus, the board includes Rebecca Campbell, former chair of International Content and Operations at Disney. This composition reflects the company’s intention to combine traditional media expertise with digital transformation capabilities.
Future Implications and Strategic Direction
Independence from NBC News
One of the most significant changes resulting from the Versant spinoff is MSNBC’s transition to operational independence from NBC News. The network is actively hiring journalists and building its own newsgathering infrastructure to replace the NBC News resources it previously relied upon. This includes hiring nearly 100 new positions to support the independent operation.
Investment and Growth Strategy
Versant is positioned as a well-capitalized company with potential for further acquisitions should the cable industry experience consolidation. The company’s portfolio of cable networks generated approximately $7 billion in revenue in the past year, providing a solid foundation for independent operations.
The leadership team has indicated plans for significant marketing campaigns to support the rebranding efforts and establish distinct brand identities for each network within the Versant portfolio. This includes what has been described as a marketing campaign “unlike any we have executed in recent history” for MSNBC’s transition to MS NOW.
Digital Transformation Focus
Versant’s strategy emphasizes the importance of digital platforms and complementary assets. The inclusion of properties like Fandango, Rotten Tomatoes, and Sports Engine alongside traditional cable networks suggests a focus on creating synergies between linear television and digital engagement.
The ownership of MSNBC represents a fascinating case study in media industry evolution. From its innovative origins as a Microsoft-NBC joint venture in 1996 to its current transition from Comcast subsidiary to independent Versant company, MSNBC’s ownership structure reflects broader trends in media consolidation, technological disruption, and strategic adaptation.
As MSNBC transforms into MS NOW under Versant ownership, the network faces the challenge of maintaining its editorial identity and audience loyalty while building independent operational capabilities. The success of this transition will likely influence how other traditional media companies approach the challenges of cord-cutting and digital transformation in the evolving media landscape.
The Versant spinoff represents one of the largest media restructuring efforts in recent years, with implications extending beyond MSNBC to the entire cable news industry. As the separation is completed by the end of 2025, it will establish an important precedent for how traditional media conglomerates can adapt to changing market dynamics while preserving the value of their content and brand assets.
References
MSNBC – Wikipedia. https://en.wikipedia.org/wiki/MSNBC
MSNBC to change name to MS NOW amid spinoff from NBCUniversal. NBC News. https://www.nbcnews.com/business/media/msnbc-change-name-ms-now-spinoff-nbcuniversal-rcna225563
News network MSNBC to rebrand. IBC. https://www.ibc.org/distribution-consumption/news/news-network-msnbc-to-rebrand/22165
MSNBC will change its name after Comcast split. Los Angeles Times. https://www.latimes.com/entertainment-arts/business/story/2025-08-18/msnbc-will-have-a-new-name-later-this-year
Comcast announces plan to spin off cable channels including MSNBC, CNBC, USA. NBC News. https://www.nbcnews.com/business/business-news/comcast-announces-plan-spin-cable-channels-msnbc-cnbc-usa-rcna180928
